Posted on 05/20/2016 6:42:09 PM PDT by Lorianne
Central banks are dumping America’s debt at a record pace.
China, Russia and Brazil sold off U.S. Treasury bonds as they tried to soften the blow of the global economic slowdown. They each sold off at least $1 billion in U.S. Treasury bonds in March.
In all, central banks sold a net $17 billion. Sales had hit a record $57 billion in January.
So far this year, the global bank debt dump has reached $123 billion.
It’s the fastest pace for a U.S. debt selloff by global central banks since at least 1978, according to Treasury Department data published Monday afternoon.
Treasuries are considered one of the safest assets in the world, but some experts say a sense of panic about the global economy drove the selloff.
“It’s more of global fear than anything,” says Ihab Salib, head of international fixed income at Federated Investors. “There’s still this fear of ‘everything is going to fall apart.'”
Judging by the selloff, policymakers across the globe were hitting the panic button often and early in the year as oil prices fell, concerns about China’s economy rose and stock markets were very volatile.
(Excerpt) Read more at davidstockmanscontracorner.com ...
I am hoping you are right. But I fear it’s too late.
We have an idiot in the white house who hired idiots around him who think the same
And let’s not forget the efforts of the Chinese to replace the dollar as the international reserve currency of choice.
A collapse of the dollar, and an announcement by China that their yuan is backed by more gold than anyone realized they even had, would be as devastating to our economy as a war.
The blithering idiots in DC are either morons or complicit-—and maybe both.
Oh professor, me, pick me....
That would be "yes" professor.
some body bought the bonds that were sold.
The move away from safety was not panic but the need to raise cash. the liquidity was tied up in the US Treasury bonds
sale of bonds among third parties has no real effect on the USA
Some men just want to watch the world burn. BHO is one of those men. The miserable bastard HATES everyone and everything.
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