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Old November 30th, 2018, 12:11 PM
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Default The Dumping Of The US Dollar Accelerates

The Dumping Of The US Dollar Accelerates

Excerpt: “Mainland it is laying the ground for the Belt and Road Initiative, and China is even sweetening the pot by offering swap facilities to local countries to promote the use of the yuan,” Stephen Innes, Head of FX Trading for OANDA in Asia Pacific told RT.

...the biggest foreign holder of the US foreign debt, China slashed it’s share by nearly $14 billion, with the country’s holdings falling to $1.15 trillion from nearly $1.17 trillion in August, according to the latest data from the Treasury Department. The fall marks the fourth straight month of declines. China is followed by Japan, whose share of US Treasuries fell to $1.03 trillion, the lowest since October 2011.

Tokyo cut its holdings of US securities to $1.029 trillion in August, the lowest since October 2011. In July, Japan’s holdings were at $1.035 trillion. According to the latest figures from the country’s Ministry of Finance, Japanese investors opted to buy British debt in August, selling US and German bonds. Japan reportedly liquidated a net $5.6 billion worth of debt.

Liquidating US Treasuries, one of the world’s most actively-traded financial assets, has recently become a trend among major holders. Russia dumped 84 percent of its holdings this year, with its remaining holdings as of June totaling just $14.9 billion.

India is also slowly moving away from the dollar. Recently, it announced that it would be paying for the Russian S-400 system (important in its own right) and settling the payment in rubles, not dollars.

Turkey is also backing away from the dollar, having dropped out of the “top-30 list of holders of American debt.”

There you have it. This doesn't include other nations; such as Iran and Venezuela either. Certainly in Africa, who is being heavily invested in by China, is also trading in Yuan as opposed to the USD exclusively.

Some may say that these nations aren't very powerful and can't hurt America... yes they can. As we sanction away there will be more to pull away from America too. This will not end well for the globe or the US.

Destroying nations or at least hurting them through the manipulation of their economy and currency has been going on forever. America and its allies are quite adept at this tactic. Now this tactic will be used to assist in the ushering in of a buildup to a centralized, global authority where real nationalism is not welcome. Every nation will be mandated to become a game piece in this global game.
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