Central banks are dumping America’s debt at a record pace.

It’s less about an economic crisis and more about an anti-American economic bloc undermining the U.S. global hegemony.

It’s BRICS versus America.

 

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China, Russia and Brazil sold off U.S. Treasury bonds as they tried to soften the blow of the global economic slowdown. They each sold off at least $1 billion in U.S. Treasury bonds in March.

So far this year, the global bank debt dump has reached $123 billion.

It’s the fastest pace for a U.S. debt selloff by global central banks since at least 1978, according to Treasury Department data published Monday afternoon. Continue reading