World News

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

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