Read the lesson in English  
then translate to your own language to verify your understanding.

Some Central Banks Are Stockpiling Gold

Dec 6, 2022

In this lesson, you’ll hear words related to gold, and gold reserves. And, at the end of the podcast, I’ll share the correct pronunciation of some keywords in English. There will also be a chance for you to win a free English course, so stay tuned to hear this week’s episode of English for Economists.

Hello, friends from all over the world. This is podcast number 59. I am glad you could join me.

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

Why central banks are stockpiling gold.

Why central banks are stockpiling gold.

Well, 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?

Well,  according to the article, there are two reasons that explain this new behavior.

The subheading of the title reads “The metal offers a hedge against inflation”. Well, 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. In this case, 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? Well, ‘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

Okay, 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.

Listen closely.

  • Financial
  • Variable
  • Structural
  • Barrier
  • Cement

That’s all for now. It’s been fun. Subscribe to this podcast if you haven’t done so already. I’ll be back soon with another lesson. Take care.

——

Image credit: CC license: Stevebidmead

Article source: https://www.economist.com/finance-and-economics/2022/12/01/why-central-banks-are-stockpiling-gold

What do you think of this lesson?
Do you have any questions or concerns?
Let us know.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Subscribe

Latest Posts

Latest Podcasts

CBDC, Stablecoins, DeFi and Web3

CBDC, Stablecoins, DeFi and Web3

Hello, friends from all over the world. Welcome to the English for Economists podcast.  This is podcast number 63. I am Alan Robert and I am very happy that you joined me today. Thank you for your support. It’s January 24th, 2023, and today our topic deals with the...

ChatGPT and AI

ChatGPT and AI

In this English lesson, we will look at words related to artificial intelligence and chatbots. A company called OpenAI (and remember, AI stands for ‘artificial intelligence’) released a product called ChatGPT at the end of last November. ChatGPT allows users to ask it...

The ‘Gig’ Economy

The ‘Gig’ Economy

In this English lesson, you will learn vocabulary related to the so-called ‘gig' economy that is currently growing with leaps and bounds -- words like gig, task, self-employed, and freelancer, among a few others.   Hello friends from all over the world. This is...

What on Earth Is a ‘Fintwit Schemer’?

What on Earth Is a ‘Fintwit Schemer’?

This English lesson looks at the meaning of these words and expressions: FinTwit; To Scheme; To Bilk; To 'Pump and Dump'. Practice your listening and reading. Listen to the lesson and follow along with the script below....

Breakthrough at Talks Spurs Concessions

Breakthrough at Talks Spurs Concessions

Listen to this headline that was published in a newspaper called The Business Standard. Listen closely because this headline is tricky to understand and it contains a lot of information. Breakthrough in Venezuela Talks Spurs US to Ease Embargo Listen again:...

Counterfeit Jewelry

Counterfeit Jewelry

The headline we will use for this class was published in the New York Times on November 21st, 2022. Jewelry Counterfeits: The Age-Old Problem Just Keeps Growing Jewelry counterfeits. What’s that? Jewelry 'are' those items that you might wear around your fingers, your...

Share This