https://www.rt.com/business/444345-china-us-treasury-holdings-drop/
China just dumped the biggest load of US Treasuries in 8 months
Published time: 19 Nov, 2018 09:53 Edited time: 19 Nov, 2018 11:07
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Still the biggest foreign holder of the US foreign debt, China slashed it’s share by nearly $14 billion, with the country's holdings falling to $1.15 trillion from nearly $1.17 trillion in August, according to the latest data from the Treasury Department. The fall marks the fourth straight month of declines. China is followed by Japan, whose share of US Treasuries fell to $1.03 trillion, the lowest since October 2011.
Read more
The great dollar dump: Russia liquidates US Treasury holdings
Washington has accelerated the Treasury issuance to avoid potential growth in the federal deficit due to the massive tax cut pushed by President Donald Trump, as well the federal spending deal approved by the government in February.
Chinese purchases of US state debt have been decreasing over recent months. The latest drop comes on top of the escalating trade conflict between Beijing and Washington over trade imbalance, market access and alleged stealing of US technology secrets by Chinese corporations. So far, the US has imposed tariffs on $200 billion of Chinese goods and Beijing retaliated with tariffs on $60 billion of US goods and stopped buying American crude.
The parties are reportedly set to resume trade talks at the G-20 meeting of the world's developed economies that will begin in Argentina on November 30. So far, Beijing has presented a list of possible concessions. On Friday, the US president said he would leave out “four or five” of the big items the US wants.
“China wants to make a deal. They sent a list of things they are willing to do, which is a large list and it is just not acceptable to me yet. But at some point I think that we are doing extremely well with respect to China,” Trump told reporters.
https://www.rt.com/business/412546-china-russia-gold-standard-dollar/
Russia-China real gold standard means end of US dollar dominance
Published time: 9 Dec, 2017 06:29 Edited time: 17 Oct, 2018 08:46
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© Reuters / Ilya Naymushin
In 2016, 24,338 tons of physical gold were traded, which was 43 percent more than in 2015, according to Claudio Grass, of Precious Metal Advisory Switzerland.
Read more
‘Gold price will explode & dollar get wiped out’ – warns investor Peter Schiff
Gold moving from the West to the East
“We have to put the BRICS initiative into a broader context. It is just part of a geopolitical tectonic shift which started decades ago. We have seen a constant outflow of physical gold from the West to the East. At the same time, the West has lost the economic war, and as a consequence, the focus now turns to the financial system. China dominates the world economy and has displaced the US as the world’s most formidable economic powerhouse,” he told RT.
The creation of a new gold standard by BRICS is also a step to end the US dollar’s domination of the global economy
“As Beijing and Moscow understand that America used the dollar to control the world, by implementing a new kind of ‘Gold standard 2.0’ they want to distance themselves from this control. Furthermore, the vast majority of the people in Asia sees gold as superior, or ‘real’ money, something the West has forgotten, because of all the paper wealth (credit) they have accumulated,” said Grass.
The expert notes the BRICS countries account for 40 percent of the world’s population and around 23 percent of the world’s domestic product.
"In combination with the announcement of pricing oil in yuan, using a gold-backed futures contract in Shanghai, the establishment of the Asian Infrastructure Investment Bank and the New Development Bank, China is setting up an alternative to the post-Bretton Woods establishment. This is certainly a game changer,” said Grass.
Read more
Russia & China could set international gold price based on physical gold trading
Physically backed precious metals market spells the end of paper gold trade
The level of trust between BRICS countries can help them establish intragroup gold trading, which would be 100 percent physically backed.
“This will present a viable challenger that could over time lead to a break up of the current system since the West will likely still trade paper gold in the meantime,” Grass said.
According to London gold clearing statistics for 2016, the total trading volume in the London Over-the-Counter (OTC) gold market is estimated at the equivalent of 1.5 million tons of gold. The volume of 100oz gold futures on New York's COMEX reached 57.5 million contracts during 2016 or 179,000 tonnes of gold, the analyst notes.
The amount of mined gold is much smaller
“If we now take into consideration that only approximately 180,000 tons of gold have actually been mined up to today the scam is just gigantic and obviously unsustainable. The paper scams in London and New York will either blow up when the paper price of gold drops to zero or when just a fraction of investors insists upon receiving physical gold in return,” Grass said.
The expert believes that with paper gold trading, the established gold exchanges could cease to exist sooner or later.
“They will likely become obsolete and lose their importance over time. Although one cannot predict exactly how fast this will happen, the trend is clear: OTC and COMEX are working toward their own destruction,” he said.
Read more
Russia continues stocking up on gold under Putin’s strategy
Gold prices could explode if trading were backed by physical precious metals
“It will definitely lead to higher prices for physical gold. Imagine if you could buy on COMEX and OTC gold at a much lower price and still have the option to sell it in Asia for a much higher price; this would kill the old paper scams immediately. Therefore, I would guess that both could come up with new restrictions that only cash settlements will be allowed to avoid this. We know for example that even today 99.96 percent of COMEX gold futures are settled in cash,” Grass wrote.
The final battle: Gold vs. US dollar
The analyst recollected the Heartland Theory of Halford Mackinder, a British geostrategist at the beginning of the 20th century who influenced the likes of Kissinger and Brzezinski. Following the theory, we will soon face a war between physical gold and the US dollar.
“As per my understanding, we are moving into the final phase, the battle between currencies – one that will be backed by a hard asset which was real money since time immemorial until 1971 and the other one, backed by promises that future generations will pay through debt, inflation and ever-rising taxation,” he said.
Getting away from fiat currencies will be good for gold
“I would like to conclude with a final thought from my friend Jayant Bandari: the combination of negative yields, massive political risks around the world, and any attempt to move away from traditional currencies will be positive for gold and will take it to the next level. Investing is very much linked with geopolitics - once you understand the big picture, it becomes apparent what you should invest in,” Grass told RT.
China just dumped the biggest load of US Treasuries in 8 months
Published time: 19 Nov, 2018 09:53 Edited time: 19 Nov, 2018 11:07
Get short URL
© Getty Images
- 62
- 1
Still the biggest foreign holder of the US foreign debt, China slashed it’s share by nearly $14 billion, with the country's holdings falling to $1.15 trillion from nearly $1.17 trillion in August, according to the latest data from the Treasury Department. The fall marks the fourth straight month of declines. China is followed by Japan, whose share of US Treasuries fell to $1.03 trillion, the lowest since October 2011.
Read more
The great dollar dump: Russia liquidates US Treasury holdings Washington has accelerated the Treasury issuance to avoid potential growth in the federal deficit due to the massive tax cut pushed by President Donald Trump, as well the federal spending deal approved by the government in February.
Chinese purchases of US state debt have been decreasing over recent months. The latest drop comes on top of the escalating trade conflict between Beijing and Washington over trade imbalance, market access and alleged stealing of US technology secrets by Chinese corporations. So far, the US has imposed tariffs on $200 billion of Chinese goods and Beijing retaliated with tariffs on $60 billion of US goods and stopped buying American crude.
The parties are reportedly set to resume trade talks at the G-20 meeting of the world's developed economies that will begin in Argentina on November 30. So far, Beijing has presented a list of possible concessions. On Friday, the US president said he would leave out “four or five” of the big items the US wants.
“China wants to make a deal. They sent a list of things they are willing to do, which is a large list and it is just not acceptable to me yet. But at some point I think that we are doing extremely well with respect to China,” Trump told reporters.
https://www.rt.com/business/412546-china-russia-gold-standard-dollar/
Russia-China real gold standard means end of US dollar dominance
Published time: 9 Dec, 2017 06:29 Edited time: 17 Oct, 2018 08:46
Get short URL
© Reuters / Ilya Naymushin
- 31386
- 15
In 2016, 24,338 tons of physical gold were traded, which was 43 percent more than in 2015, according to Claudio Grass, of Precious Metal Advisory Switzerland.
Read more
‘Gold price will explode & dollar get wiped out’ – warns investor Peter Schiff Gold moving from the West to the East
“We have to put the BRICS initiative into a broader context. It is just part of a geopolitical tectonic shift which started decades ago. We have seen a constant outflow of physical gold from the West to the East. At the same time, the West has lost the economic war, and as a consequence, the focus now turns to the financial system. China dominates the world economy and has displaced the US as the world’s most formidable economic powerhouse,” he told RT.
The creation of a new gold standard by BRICS is also a step to end the US dollar’s domination of the global economy
“As Beijing and Moscow understand that America used the dollar to control the world, by implementing a new kind of ‘Gold standard 2.0’ they want to distance themselves from this control. Furthermore, the vast majority of the people in Asia sees gold as superior, or ‘real’ money, something the West has forgotten, because of all the paper wealth (credit) they have accumulated,” said Grass.
The expert notes the BRICS countries account for 40 percent of the world’s population and around 23 percent of the world’s domestic product.
"In combination with the announcement of pricing oil in yuan, using a gold-backed futures contract in Shanghai, the establishment of the Asian Infrastructure Investment Bank and the New Development Bank, China is setting up an alternative to the post-Bretton Woods establishment. This is certainly a game changer,” said Grass.
Read more
Russia & China could set international gold price based on physical gold trading Physically backed precious metals market spells the end of paper gold trade
The level of trust between BRICS countries can help them establish intragroup gold trading, which would be 100 percent physically backed.
“This will present a viable challenger that could over time lead to a break up of the current system since the West will likely still trade paper gold in the meantime,” Grass said.
According to London gold clearing statistics for 2016, the total trading volume in the London Over-the-Counter (OTC) gold market is estimated at the equivalent of 1.5 million tons of gold. The volume of 100oz gold futures on New York's COMEX reached 57.5 million contracts during 2016 or 179,000 tonnes of gold, the analyst notes.
The amount of mined gold is much smaller
“If we now take into consideration that only approximately 180,000 tons of gold have actually been mined up to today the scam is just gigantic and obviously unsustainable. The paper scams in London and New York will either blow up when the paper price of gold drops to zero or when just a fraction of investors insists upon receiving physical gold in return,” Grass said.
The expert believes that with paper gold trading, the established gold exchanges could cease to exist sooner or later.
“They will likely become obsolete and lose their importance over time. Although one cannot predict exactly how fast this will happen, the trend is clear: OTC and COMEX are working toward their own destruction,” he said.
Read more
Russia continues stocking up on gold under Putin’s strategy Gold prices could explode if trading were backed by physical precious metals
“It will definitely lead to higher prices for physical gold. Imagine if you could buy on COMEX and OTC gold at a much lower price and still have the option to sell it in Asia for a much higher price; this would kill the old paper scams immediately. Therefore, I would guess that both could come up with new restrictions that only cash settlements will be allowed to avoid this. We know for example that even today 99.96 percent of COMEX gold futures are settled in cash,” Grass wrote.
The final battle: Gold vs. US dollar
The analyst recollected the Heartland Theory of Halford Mackinder, a British geostrategist at the beginning of the 20th century who influenced the likes of Kissinger and Brzezinski. Following the theory, we will soon face a war between physical gold and the US dollar.
“As per my understanding, we are moving into the final phase, the battle between currencies – one that will be backed by a hard asset which was real money since time immemorial until 1971 and the other one, backed by promises that future generations will pay through debt, inflation and ever-rising taxation,” he said.
Getting away from fiat currencies will be good for gold
“I would like to conclude with a final thought from my friend Jayant Bandari: the combination of negative yields, massive political risks around the world, and any attempt to move away from traditional currencies will be positive for gold and will take it to the next level. Investing is very much linked with geopolitics - once you understand the big picture, it becomes apparent what you should invest in,” Grass told RT.
Russia & China preparing to ditch dollar for national currencies in trade – top official 
