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Huge changes are afoot. Russia and China no longer use the dollar for 90 percent of their transactions. And China just dumped a record volume of treasuries, knowing that treasuries will soon be trash.
The world is changing rapidly. Today’s Brighteon Broadcast News covers the key events, plus a conviction of a DEI corporate manager for massive wire fraud and pocketing kickbacks, defrauding both Facebook and Nike.
China’s Treasury dump underscores a big problem for the U.S. Treasury. The federal government is running massive deficits month after month. If China and other countries spurn U.S. debt, who is going to fund this borrowing spree? Foreign investors make up about one-third of the market for U.S. Treasuries.
By: South China Morning Post
World in Turmoil: Russia and China Abandon the Dollar, Triggering Massive Economic Shifts!
China unloads more US Treasury bills as odds of Fed rate cuts grow slim
- With the Federal Reserve suggesting interest rate cuts are unlikely in the immediate future, China has unloaded more of its US Treasury holdings
- Beijing’s foreign holdings have grown more diverse as country moves to reduce its stake in US debt and minimise the impact of geopolitics on its assets
Worries over security and a further delay to expected interest rate cuts by the Federal Reserve have depleted Beijing’s appetite for US Treasury bills, and its position as the second-largest foreign holder of the financial instruments could be taken by the UK in coming months, analysts warned.
EMERGENCY!!! The Government Will Control the Power Grid, Create Blackouts, and Enforce Martial Law!
The world’s second-largest economy offloaded US$22.7 billion of the bills in February, with its total holdings adding up to US$775 billion as of the end of that month, according to figures released by the US Treasury Department on Wednesday.
Japan consolidated its place as top buyer with an addition of US$16.4 billion in bills to its coffers in February for a total US$1.168 trillion of US debt, while the holdings of the United Kingdom rose to US$700.8 billion from US$691.2 billion during the same period.
“China’s overseas investment has been concentrated on US Treasuries in the past, [but] there is space for the Chinese government to further cut back its holdings in the future,” said Zhao Xijun, a finance professor at Renmin University in Beijing.
