Dollar Dump Begins: Russia Unloads 20% Of Its Total U.S. Holdings In ONE Month
Earlier this week John Williams warned that hyperinflation will begin to appear in America sometime in 2015
by Mac Slavo February 21, 2015
Earlier this week John Williams warned that hyperinflation will begin to appear in America sometime in 2015. He noted that, though the dollar is currently strong compared to other fiat money, signs that a currency collapse is coming will begin with the sell-off of the U.S. dollar.
It's a known fact that the Russians and Chinese have already begun divesting themselves of dollar dependency by implementing trade agreements that completely sidestep the world's reserve currency, but there has been no overt sign of a sell-off that might be indicative of a coming attack on our currency.
Until now, that is.
According to a report from Zero Hedge the Russians have already started unloading their dollar reserves. In the month of December alone they sold a record $22 billion in U.S. Treasurys. While this may not seem like a big number, it is over 20% of their total US dollar holdings.
But here's the kicker: They're not the only ones getting rid of their dollars in what appears to be a fairly uncommon sell-off over the course of the last 60 days.
Back in December, Socgen spread a rumor that Russia has begun selling its gold. Subsequent IMF data showed that not only was this not correct, Russia in fact added to its gold holdings. But there was one thing it was selling: some $22 billion in US Treasurys, a record 20% of its total holdings, bringing its US paper inventory to just $86 billion in December – the lowest since June 2008.
…
It wasn't just Russia: the country that has ever more frequently been said to be in the same camp as Russia – and against the US – namely China, also sold another $6 billion in Treasurys in the last month of 2014, which would have made its US treasury holdings equal with those of Japan, if only Tokyo hadn't also sold over $10 billion in the same month.
…
And while we know that Russia used at least some of the proceeds to buy gold, the bigger question is: just what is China buying with all these stealthy USD-denominated liquidations, and how much gold does the PBOC really have as of this moment.
Is Russia, after being under economic attack for the better part of a year, now starting to make its own moves? And are they working in unison with the Chinese in an effort to debase the dollar?
World affairs analyst Joel Skousen recently made a compelling case against an imminent economic collapse, while others argue that the end is nigh for the U.S. economic, financial and monetary systems.
Whatever the case, remain vigilant and prepare for the worst, because the hammer is going to drop sooner or later.
http://www.infowars.com/dollar-dump-begins-russia-unloads-20-of-its-total-u-s-holdings-in-one-month/
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Russia Dumps Most US Paper Ever As China Reduces Treasurys Holdings To January 2013 Levels
Submitted by Tyler Durden on 02/18/2015 22:02 -0400
Back in December, Socgen spread a rumor that Russia has begun selling its gold. Subsequent IMF data showed that not only was this not correct, Russia in fact added to its gold holdings. But there was one thing it was selling: some $22 billion in US Treasurys, a record 20% of its total holdings, bringing its US paper inventory to just $86 billion in December - the lowest since June 2008.
It wasn't just Russia: the country that has ever more frequently been said to be in the same camp as Russia - and against the US - namely China, also sold another $6 billion in Treasurys in the last month of 2014, which would have made its US treasury holdings equal with those of Japan, if only Tokyo hadn't also sold over $10 billion in the same month.
And while we know that Russia used at least some of the proceeds to buy gold, the bigger question is: just what is China buying with all these stealthy USD-denominated liquidations, and how much gold does the PBOC really have as of this moment.
http://www.zerohedge.com/news/2015-02-18/russia-dumps-most-us-paper-ever-china-reduces-treasurys-holdings-january-2013-levels
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Russia dumping dollars to use to protect currency and falling oil prices
Next: Bank deposits will soon no longer be considered money but paper investments
October 10, 2014 5:33 PM MST
Some of this money was used earlier this week to support the declining Rouble as President Putin authorized the transfer of over $2 billion to be used directly to support the Russian currency. Additionally, the Russian central bank has already authorized funds to be set aside to supplement Russian corporations and oil industries should the need arise for liquidity and capital.
Despite the reassuring narrative from The West that Russia faces "costs" and is increasingly "isolated" due to sanctions for its actions in Ukraine, the most recent data suggests reality is quite different. First, capital outflows slowed dramatically in Q3 (from $23.7 billion in Q2 to $13 billion in Q3) with September seeing capital inflows for the first time since Sept 2013. Second, Russia's current account surplus was significantly stronger than expected ($11.4 billion vs $8.8 billion expected) driven by increased trade. Third, and perhaps most crucially, Russia paid down a massive $52.8 billion in foreign debt as Putin "de-dollarizes" at near record pace, reducing external debt to the lowest since 2012. - Zerohedge
Russia is not the only Eurasian nation de-dollarizing at a fast pace. Earlier this week as well, long time U.S. economic ally South Korea disseminated that their foreign reserve holdings had grown in the Yuan over the past year, almost doubling its prior total of 13.7% which was the amount they held at the end of 2013. These reserves replace former dollar holdings, and rise a huge red flag that the Far Eastern manufacturing center is quickly moving into the Eurasian Trade camp, and away from Western hegemony.
America's gambit to force down the price of oil is a ploy the U.S. used in the late 1980's to destroy the Rouble, and tear down the old Soviet Union's economy. However, the Russian leadership is not stupid, and have realized for a long time that this was an Achilles Heel in their economic system, and this time, the tables are quickly turning against the U.S. as Russia simply dumps more and more dollars to use as capital to supplement their currency and industry during these short term attacks by the West in their attempt to cripple them monetarily.
Suggested Links
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China begins direct trade with Europe as the Yuan is ready to supplant dollar
http://www.examiner.com/article/russia-dumping-dollars-to-use-to-protect-currency-and-falling-oil-prices
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