As the Chinese accumulate more and more gold, they’re dumping U.S.
As the Chineseaccumulate more and more gold, they’re dumping U.S. Treasuries. That raises an important question: who is going to keep funding the federal government’s borrowing spree? China offloaded another $22.7 billion in U.S. Treasuries in February, according to the latest data from the Federal Reserve. That dropped its total holdings to $775 billion. China still ranks as the second-largest foreign holder of U.S. debt, but the U.K.
As Jim Rickards pointed out on Mises Daily back in 2015,many analysts believe that China keeps several thousand tons of gold“off the books” in a separate entity called the State Administration for Foreign Exchange . A big problem for the U.S. treasury China’s Treasury dump underscores a big problem for the U.S. Treasury. The federal government is runningmassive deficits month after month. If China and other countries spurn U.S.
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