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« Richmond Fed Rebound Suggests Econ. Recovery | Get Ready for Inflation and Higher Interest Rates »
Russia Joins China in Reducing US Dollar Reserves
Russia is the third largest creditor to the United States and holds about 400 billion in US dollar Treasuries. They announced today that they will be reducing their USD dollar holdings in favour of bonds issued by the International Monetary Fund (IMF).
This follows on China, who last month indicated that they would be increasing their IMF allocations.
If major creditors to the United States are reducing their USD holdings implying that we will see further depreciation in the value of the USD then maybe you should too!
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