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China officially added gold to its reserves last month for the first time in two years. Meanwhile, the Chinese have been shrinking their holdings of US Treasuries. According to the Nikkei Asian Review, the moves are intended to reduce dependence on the US dollar. According to data released by the People’s Bank of China, the […]
Russia added another 36.6 tons of gold to its reserves in November, according to the latest data released by the World Gold Council. This follows on the heels of a 29.9-ton increase to its hoard in October and a 37.8-ton increase in September.
China and Japan dumped more US Treasuries in October, even as the federal government continued to run up its debt. Chinese holdings of US Treasuries dropped for the fifth straight month, sinking to the lowest level since May 2017, according to data recently released by the Treasury Department. The total amount of US debt held […]
How much gold does China really have? The short answer is we don’t really know. Officially, the Chinese central bank’s reserves stand at 1,842.6 tons. But the People’s Bank of China has not announced an increase in its gold hoard since October 2016. But it has almost certainly added gold to its reserves since then. Just […]
Peter Schiff appeared on RT America Friday to talk about the big stock market selloff in the wake of the arrest of Meng Wanzhou, a Chinese businesswoman accused of violating US sanction laws. The markets reacted negatively, fearing the arrest could derail apparent progress in the trade war. Peter said Wanzhou’s arrest may have provided the […]
The Russians have an alternative money transfer system up and running, and according to a report in RT, it has now surpassed SWIFT in popularity in that country. This is part of a broader effort by countries like Russia and China to limit their dependence on the US dollar and set up alternative financial channels outside of […]
A functioning bionic eye is closer to reality thanks to silver. The Silver Institute highlighted this amazing medical breakthrough along with other technological innovations utilizing the white metal in the latest edition of Silver News.
As we reported last week, China is dumping US debt. China’s holdings of US Treasuries fell for the third consecutive month in August. The Chinese shed another $6 billion in US debt, dropping its total holdings to $1.165 trillion. Over the last year, China’s holdings of Treasury bonds fell by $37 billion year-on-year. But China has […]
The US national debt increased by $1.27 trillion in fiscal 2018. If you expected the pace of borrowing to slow in fiscal 2019, you’ll be disappointed. In just the first 11 business days of the new fiscal year, the US government added another $138 billion of debt to the total. That brings the total national […]
Yields have been on the rise this week in the midst of a bond market sell-off. Two-year borrowing costs hit their highest level in a decade Wednesday. The yield on the 2-year Treasury climbed to 2.816%. Meanwhile, the 10-year Treasury yield hit a four-month high of 3.07%. What’s going on here?
