Friday, 29 June 2018

RUSSIA DUMPS $47 BILLION OF US SECURITIES, MASSIVELY BUYING GOLD


In a further sign the US is losing the dominance of the world’s economic system which it has enjoyed since the end of World War 2, Russia is massively divesting from US securities.

In April, Russia dumped $47 billion in US bonds – roughly half of the US debt it holds.

US President Trump’s escalating tariff war, plus ever-expanding US sanctions on Russia, could also be contributing factors to Moscow’s decision to increasingly ditch dollars.

In exchange, Russia is turning to an ancient and time-tested store of value: gold.

The question is, as the US trade war with China escalates, will Beijing follow suit?

Here’s more from RT:

US sanctions have forced Russia to look at ways of securing its foreign reserves. In recent years, Moscow has increased purchases of physical gold and dramatically reduced its share of US debt bonds.
https://www.blacklistednews.com/article/66709/russia-dumps-47-billion-of-us-securities-massively-buying.html

[Posted at the SpookyWeather blog, June 29th, 2018.]

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