China Dumps Record $53.3 Billion in US Debt: A Threat to Dollar Stability? | The Gold Spot
View the 💵 De-Dollarization Timeline here 👉 https://www.sbcgold.com/de-dollarizat...
The world’s second-largest economy is on a dollar-dumping spree. More specifically, #China is actively selling US Treasuries to loosen its dependence on the US dollar. This could escalate into a massive blow for the US economy since Beijing is one of the biggest creditors of #USdebt.
The US Treasury Department reveals that the PBOC has dumped more than $53 billion in Q1 of 2024. The trend is expected to escalate as Xi Jinping wants to deal an economic blow to the US to bolster the yuan while hurting the dollar.
China might be leading de-dollarization, but many countries are following the trend. The #BRICS nations are collectively threatening to topple the USD as the world reserve currency. This growing economic body is pursuing a #dedollarization strategy that will likely lead to #BRICScurrency and more trade in local currencies.
Economic experts at the federal and global level are warning of the dollar’s weakness and China’s effective #tradewar. Many investors are starting to follow the trends of central banks as they bail out of dollar-backed assets and into physical #goldbullion.
Watch this week’s #TheGoldSpot to hear Scottsdale Bullion & Coin Founder Eric Sepanek and Precious Metals Advisor Kathem Martin discuss China’s alarming rate of selling US treasuries, what other countries are following suit, and how this threatens the financial security of all Americans.
👉 READ MORE HERE: https://sbcgold.com/blog/china-offloa...
⭐ RELATED LINKS:
🔗 De-Dollarization 101: What to Know About the Global Shift Away From the Dollar: https://www.sbcgold.com/blog/de-dolla...
🔗 BRICS Currency: What It Is & What It Means for Investors: https://www.sbcgold.com/blog/brics-cu...
⭐ @sbcgold Precious Metals Advisors in this The Gold Spot video:
👤 Kathem Martin: https://www.sbcgold.com/about/kathem-...
👤 Eric Sepanek, founder of Scottsdale Bullion & Coin (SBC Gold)
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