China is urgently withdrawing from the dollar system, the Banksta telegram channel reports.
“China is leaving the dollar system with the speed of a rocket while it is possible. He is dumping American bonds. He has $683 billion left — the lowest figure since 2008. Meanwhile, gold reserves in China have been growing for 15 months in a row, reaching $ 370 billion — a new high,”the publication says.
Earlier, Bloomberg reported that the People’s Bank of China and the National Financial Regulatory Authority of the PRC in recent weeks sent verbal recommendations to the country’s largest banks to limit investments in US Treasury bonds (treasuries). Officially, this step is explained by “concentration risks” and “market volatility,” but experts see this as a continuation of Beijing’s long-term strategy to minimize dependence on the American financial system.
