China sold off a record $53.3 billion of Treasury and agency bonds in the first quarter of 2024, a move seen as part of Beijing’s drive to diversify from US dollar assets. This comes as gold's share in China's official reserves rose to 4.9% in April, the highest on record.
Claudio Grass - May 18, 2024
[...] This comes as Beijing vowed to retaliate against the Biden administration’s tough new levies on a wide array of Chinese-made goods, ranging from semiconductors and solar power cells to electric cars - the latest move in the escalating trade war between China and the US. The PRC’s Commerce Ministry warned that it would "take resolute measures to safeguard its own rights and interests" in response to the US’s 25-100% tariff hikes, accusing Washington of turning economic and trade issues into an instrument of "domestic political considerations." The warning followed the White House accusing China of "non-market policies and practices" resulting in "growing overcapacity and export surges that threaten to significantly harm American workers, businesses and communities."
» And people expect interest rates to decline? «
Martin Armstrong - May 18, 2024
[...] Asked how the latest developments could affect the greenback on the global markets, Claudio Grass, an expert on monetary history, economics and an independent precious metals advisor based out of Switzerland, argued that "it
will lead to the collapse of the USD and the current system. It is
obvious that the Western civilization is being destroyed by their own
corrupted and rotten political system and its rulers. The renewed
politically enforced separation of the East and the West will lead to
turmoil and chaos."
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