Dans cette leçon, vous entendrez des mots liés à l'or, et réserves d'or. Et, à la fin du podcast, Je vais partager la prononciation correcte de certains mots-clés en anglais. Vous aurez également la chance de gagner un cours d'anglais gratuit, so stay tuned to hear this week’s episode of English for Economists.

Bonjour, amis du monde entier. C'est le numéro du podcast 59. I am glad you could join me.

Listen to this headline that was published on December 1st, 2022 dans le Economist magazine.

Why central banks are stockpiling gold.

Bien, to ‘stockpile’ something means to accumulate a stock of that item. Possibly to hold as a reserve. To stockpile, in this case, gold.

So some central banks have begun to accumulate gold. To stockpile gold.

Why you might ask?

Bien,  selon l'article, there are two reasons that explain this new behavior.

The subheading of the title reads “The metal offers a hedge against inflation”. Bien, that is one reason. Some central banks are moving out of treasury bills and into gold because the rise in the FED’s reference rate has pushed bond yields up, making them less attractive as a holding. Gold becomes a “hedge” against this risk. A kind of protection against this risk. Dans ce cas, it also becomes something of a replacement.

Now listen to the complete subheading:

The metal offers a hedge against inflation –– and a way to circumvent sanctions.

Circumvent sanctions? Bien, 'circumvent’ is to get around sanctions. To avoid the sanctions. To circumvent.

The metal offers a hedge against inflation –– and a way to circumvent sanctions.

The article suggests that gold isn’t as easily tracked as other alternatives, and gold offers buyers and sellers more in the way of anonymity, which makes it easier to avoid – to circumvent — any imposed restriction.

Listen to the headline and subheading one last time.

Why central banks are stockpiling gold

The metal offers a hedge against inflation—and a way to circumvent sanctions

D'accord, I wanted to try something new on today’s podcast and offer you a little more than just new vocabulary taken from headlines.  As an English teacher, I find that students often mispronounce the same keywords. That word is just trickier to say than others. Sometimes, these words can be crucial to the meaning of your sentence, so being clear and understandable is key.

For the next few podcasts, I’ll cover five of these words so you can make sure you are pronouncing them correctly.

Écoutez attentivement.

• Financial
• Variable
• Structural
• Barrier
• Cement

Conclusion

C'est tout pour le moment. It’s been fun. If today’s lesson interested you, you might want to check out our lessons on Central Banks Raising Policy Rates et Economic Sanctions and Their Effect on Currencies for more banking vocabulary. Subscribe to this podcast if you haven’t done so already. I’ll be back soon with another lesson. Prenez soin de vous.

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Image credit: CC license: Stevebidmead