Way To Go, Goodbye Petrodollar: Russia and China Dump US Treasuries, Buy Gold

Uprootedpalestinians's Blog

Goodbye Petrodollar: Russia and China Dump US Treasuries, Buy Gold

Matthew Allen
Gold is appealing to Russia and China because it shields them from the US government’s ability to control the value of their holdings

It’s no secret that Russia and China both share a growing appetite for gold. But how excited are they about U.S. Treasuries, the most boring but “safe” investment which basically translates into “we believe that everything will basically stay the same”?

From the looks of it, Moscow and Beijing no longer think T-bonds are a safe bet or in their national interests.

As Bloomberg’s Zhuo Zhang explains, Russia and China are selling their treasuries and buying up all the gold they can get their hands on:

As they sharply increase their gold reserves, China and Russia are selling off their U.S. Treasuries, with their hunger for the metal coming amid a strict diet excluding…

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