RUSSIA DUMPS 85% of its holdings in US treasuries in the last two months AND BUYS GOLD!! BITCOIN 8148 looks to base at support. STATMAN comments!
Good morning my Steemian friends.
The news of the Russian dumping is huge and probably under reported, to say the least.
The Trump administration imposed new sanction on April 6 on seven of Russia's richest men and seventeen top government officials. the geo-political tensions are far worse than most understand. Tensions are running very deep and the move by Russia is a response to sanctions and their concern about the state of the dollar.
China has been selling treasuries and it is likely to accelerate. Remember I reported that in the springtime China downgraded US debt to BBB+ (junk bond status). They too, are buying all the gold and silver they can.
Stephen Leeb reports (see KWN.com) that the road is paved to 10,000 gold. The stage is set and China will have no part in the dollar standing as the world reserve currency. China has stated publicly that gold will be at the center of the next monetary system. Leeb is one great economist and advisor. I've followed and respected his opinions for many years. Go to KWN.com and read it!
Bitcoin is at 8147 as I write. SENTIMENT is off about 5% (more bulls) than Friday's report and the crypto is acting a bit "soft". We look longer term, really. And, as I wrote recently Sentiment is not good enough to propel BTC above 8500, and that level as you see by the chart offers stiff resistance. But, the 7700 and ultimately 7100 offers very strong support.
In summary, whether we visit RON ROSEN'S 1140 by Nov. prediction than a massive move upwards in the metals, or it is Sept. at a higher level and than a multi-hundred dollar move upward and quickly is becoming immaterial. The stage is set. Our debt is now doubled since 2006. But count on it news will be out, and there will be little stopping the horse once "out of the barn". And Interestingly the COT numbers I've shown recently (commitment of traders) is now a t levels "almost" marking all major bottoms.
The opinions herein are mine...please do your own 'due diligence'....and thanks for your support...(UPVOTE/FOLLOW/RESTEEM)
Nice post @yankee-statman. Yea...I think Russia dumped US Treasures a couple weeks ago. I believe this was done in collusion with China as a test to see what would happen when China starts dumping. That’s just speculation on my part of course.
The truth is, America needs to address it’s debt NOW. Bush added $4 Trillion. Obama DOUBLED the national debt, spending more than all US presidents combined. Now Trump is continuing the out of control spending. Until America stops its addiction to spending, the collapse of the US dollar is inevitable.
you could not be more correct, in my opinion..and thanks for the support and valued commentary.
Great post but 85% is pretty much bullshit. If they would drop 85% of USD assets in such short period would cause >10% drop in USD value (which obviously didn't happen)
appreciated..seems shocking..(if true)...but I do believe real trouble...and dollar related, lies ahead..
Love your stuff (especially on the Yankees) but China dumping US bonds is like biting the hand that feeds you. One of my suppliers is Foxconn and the sentiment there is to preserve the only customer that buys iPhones for their 7 year olds.
We are all intertwined in the debt bubble. If we go down, the rest is history.
What's up with AJ? He's losing me a ton of BTC on the DL. We always bet on 2nd year players.
Thanks..I wish I had an answer..(AJ)..But this debt situation is going to make '08 look like a walk in the park...thanks so much for the support!
Wow! Thats amazing. Scary.
absolutely, and I'm sure there is more to come, re: russia.
Great post, I had no idea Russia was dumping treasuries as well.
thanks...appreciated!
"China has stated publicly that gold will be at the center of the next monetary system". Does anyone has any doubt that in a few years China will dominate the world? Let's buy gold and silver.
I agree (of course)..and thanks again, my friend.
Great post! I had no idea Russia was dumping like they were - def under-reported for sure like you noted. I agree with your sentiments, and found the post to be very informative.
thank you!! and thanks for stopping buy! Yes (russia and china both, and buying gold with the $$) something about to unfold...stay tuned..
Thank you for your continued support of SteemSilverGold
I am back from my vacation....what has changed? Nothing. Silver still paper slaughtered down and teh Dow is up 700 points on the year (big fat waste of time).
It is very clear here we are at the DOLLAR TURN. Everything should sync up once they let the USDJPY and the DXY go...