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Earlier this week China announced that its foreign currency reserves are excessive and that they need to return to “reasonable” levels. In politician speak, this is a clear, “we are sick of the USZ Dollar and will be taking steps to lower our holdings.” Remember, the USZ Dollar is China’s largest single holding. And China has already begun dumping Treasuries (USZ Debt). This comes on the heels of China deciding (along with Russia) to trade in their own currencies, NOT the USZ Dollar. Not to mention the numerous warnings Chinese politicians have been issuing to the USZ over the last 24 months.
In simple terms, China is done playing nice and is now actively moving out of USZ Dollar denominated assets. This is the beginning of the USZ Dollar’s end as world reserve currency. The dimwits in Washington don’t understand this because their advisors are all Wall Street stooges who don’t think debt or deficits matter. After all, why would they? Their entire business model is now based on endless cheap debt from the USZ Fed. So it’s only logically (in their minds) that the USZ as a sovereign state engage in the same strategies.
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