Russia Liquidates Its Treasury Holdings
This is what a very politically motivated liquidation of Treasury holdings looks like. Putin has taken Russia's US Treasury holdings to their lowest level in over a decade...what does he know that the market doesn't? Pretty obvious to see why yields have blown out in the past few months and US home borrowers are paying more.
Russia's Treasury holdings were relatively insignificant in the grand scheme of things...I mean the US has $21+ trillion worth of them out there and they had less than 1% which they flipped into Gold...but China is another story.
What happens when China joins suit, dumps their treasuries as a result of trade sanctions and backs the Yuan with their massive Gold hoard...spoiler alert, it won't be good. I'm guessing the Fed's special window they have have for China may suddenly close.
I am Lord @matthewwarn and I have Stackitis...but there are worse problems to have in life, like an endless stream of debt.
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That is a scary thought to think our monitary future is partially in the hands of foreign countries. Makes me want to stack more physical precious metals. Great post
It’s our only defense
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