You left out the best part.
“But this isn’t just a U.S. game. China has jumped into the gold pit too, and brings a bigger shovel. China’s central bank just cranked open the vault doors by dramatically raising gold-import quotas, letting local banks swap U.S. dollars
DX00
-0.10%
directly for bullion….That’s China quietly telling Uncle Sam that holding all those U.S. Treasurys is starting to feel less like prudent investing and more like playing roulette with the house on fire.
Think about it. Even if China converts into gold a modest 10% of the $784 billion Treasury stash it held as of February, it would send tremors through global markets.
China isn’t hoarding gold because it matches the curtains — it’s preparing for a monetary earthquake. Central banks around the world are doing the same. America just imported a mountain of gold. Nations are bracing for the next seismic shift in global monetary power…..”
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Good to see our Western MSM finally reporting the upcoming train wreck….something a few of us saw months ago. Most Americans are heading into a huge haircut, and the few others that have been following closely, prosperity.
If the world’s Central Banks are shedding US Debt instruments and buying historic amounts of Gold instead, a thinker must ask why?
“if China converts into gold a modest 10% of the $784 billion Treasury stash it held as of February, it would send tremors through global markets.”
The Fed bought $3 Trillion of Treasuries in three months, within recent years.
It can absorb less than a trillion from China, but China cannot afford to sell all its Treasuries, because it needs those dollar accounts to clear shipments at ports, and keep its products flowing..