Russia sold 20% of their US Treasurys since March. Belgium (the front for the European Union) now is the third largest holder of our debt. As our debt is transferred from the East to the West, the petrodollar’s future is on borrowed time. What will this mean for the average working family? Or I should say, how is this already impacting the average working family? There is no need to review the increased costs for food and gasoline. The savings rate in the United States is down to 3.8%. Even Walmart is feeling the pain with decreased sales (blamed on the weather).
What will it mean in the near future for us? As inflation rises, our life’s savings will be decimated by the devaluation of the dollar. Redistribution and hyperinflation will lead to civil unrest. Which is all according to the pResident’s plan.
David DeGerolamo
Russia Dumps 20% Of Its Treasury Holdings As Mystery “Belgium” Buyer Adds Another Whopping $40 Billion
Back in mid-March, there was a brief scare after the start of the Ukraine conflict, when Fed custody holdings plunged by a record $104.5 billion (if promptly bouncing back the following week), leading many to believe that Russia may have dumped its Treasurys, or at least change its bond custodian. We noted that we wouldn’t have a definitive answer until the May TIC number came out to know for sure how much Russia had sold, or if indeed, anything. Moments ago the May TIC numbers did come out, and as expected, Russia indeed dumped a record $26 billion, or some 20% of all of its holdings, bringing its post-March total to just over $100 billion – the lowest since the Lehman crisis.
