New World Banking System Being Formed

Russia has abandoned the idea that US debt is to be held and has already sold over half of its $360 billion since the US placed sanctions on Russia!  China has lot of reasons to sell.  It has announced it will be selling its own debt to keep its economy growing at 6-7% a year.  We Americans have been fed a propaganda diet that China will never sell US debt because we are told it wants its own currency to remain cheap in the world market.  But China is forming it own version of a world central banking system called  Asian Infrastructure Investment Bank (10) (AIIB) [China bond data (11)].  It openly says it will compete with Wall Street and move away from the Dollar standard.  China and Russia are now forced allies,  both are among the BRICS agreement nations that last year agreed to set up a common bank.  The US has jawboned against all these efforts, but to little avail, and over 57 countries, including Great Britain, have agreed to join the new AIIB bank.  Of the majors, only the US and Japan have refused to join.  China and the members of the new AIIB hold well over $4 trillion of US debt–what if one or all start to sell in order to fund the new AIIB?  This author thinks China alone holds enough dollar bonds ($1.2 trillion) to burst the Godfather of Bubbles.


whtt.org/us-treasury-bondsthe-godfather-of-all-bubbles/