One month ago, the bond market and political pundits did a double take when according to the latest Treasury International Capital report, Russia had liquidated virtually all of its US Treasury holdings, selling off the bulk of its US government bonds in just two months, March and April.
One month ago, the bond market and political pundits did a double take when according to the latest Treasury International Capital report, Russia had liquidated virtually all of its US Treasury holdings, selling off the bulk of its US government bonds in just two months, March and April.
And with the US threatening to impose a new set of “crushing” sanctions on Russia, including in retaliation for the alleged Novichok nerve gas attack in the UK, Russia not only intends to continue liquidating its US holdings, but to significantly reduce its reliance on the US Dollar.
Speaking in an interview for the Rossiya 1 TV channel, Finance Minister Anton Siluanov said that Russia “aims to keep reducing its investments in American securities” following new U.S. sanctions and said that the “US dollar is becoming an unreliable…
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The Most Revolutionary Act 
Taht will do a lot to cut oil consumption, in the US eventually. Good for them. Americans, can get off their fat asses, and start biking-walking more
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LOL, Peter. I agree totally.
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The days of the dollar hegemony are surely numbered!
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The question, Alan, is whether it will happen quickly enough to prevent Wall Street from destroying the planet.
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