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Foreign Central Banks Are Dumping US Debt At Alarming Rates​

Dec 19, 2025
Scott Bessent has a problem on his hands. He’s trying to “Sell America” but no one is buying. The Treasury International Capital (TIC) data is flowing again and it’s ugly. The October data show a declining market year over year for U.S. debt from foreign central banks, a continuation of a terrible trend. But private sources are beginning to walk away as well right at the moment that the Yen Carry Trade is starting to unwind due to a declining Yen and increasing Japanese bond yields. Max breaks it all down to show why everyone is walking away, why the Trump administration is accelerating the trend and the danger is poses to the American public.


23:41
 
I do not trust Scotty.

IMHO, he's got a little bit of the double-agent thing going on. Martin Armstrong says he was the brains behind Georg Soros' short-selling move on the British Pound, and that he remains deeply connected to the WEF.

And don't think the WEF has gone away. They've just seen the PR disaster that came of Old Klaus's final vainglorious round of posturing; and now that Larry (the) Fink is essentially running things, they're going back to their 1990s Stealth Mode. Their belief in Transhumanism and Technocracy (techno-tyranny) remains fully empowered and the operational plan.

Let's not forget - the son of a bitch is light in the loafers. I've never seen a f@660t who was committed fundamentally to anything other than his own prurient gratification and thrills. I give zero pfux how conservatively he dresses - when the "cis" people are watching.
 

India’s 2026 BRICS Presidency: Multilateralism, Multipolarity, and the Venezuelan Test​

From this month, India has assumed the rotating presidency of the BRICS+ grouping. This transition opens a window of opportunity, not least because it shifts part of the bloc’s strategic focus towards the Indo-Pacific. At the same time, it brings to the fore a set of significant challenges, particularly those related to changes in the foreign policy of the United States and its recent actions in Venezuela.

As the presidency passes from Brazil to India, the central challenge facing BRICS in 2026 will not be the continuation of an already well-established common agenda, but rather the task of striking a workable balance among national positions on more divisive issues – areas in which the group is increasingly expected to articulate a collective stance.

More:

 
China trimmed its holdings of US Treasuries in November to the lowest level since 2008, diverging from a global trend that saw total foreign ownership of the debt instruments hit a record high.
...
Beijing’s stockpile fell to US$682.6 billion in November, down from US$688.7 billion in October, according to US Treasury Department data released on Thursday.

That marks the lowest level since September 2008 and a nearly 10 per cent drop since last January, according to financial data provider Wind.

Shao Yu, chief economist with the Sci-tech Innovation Management Research Centre at Fudan University, said ...

“The massive accumulation of debt resembles a Ponzi scheme, where larger volumes of new debt are used to replace the old. China doesn’t want to play this game any more,” he said.
...
Click to expand...

www.scmp.com

China dumps more US debt, buys other assets as Trump targets Powell

Beijing’s Treasury holdings hit a September 2008 low, and analysts point to fears over Fed independence and debt sustainability, while gold’s appeal rises.
www.scmp.com www.scmp.com
 
Transactions on a new China-led digital currency platform have surged to over $55 billion, a new report shows, the latest sign that efforts to build alternatives to dollar-dependent global payment systems are gaining traction.

Data crunched by the Washington-based Atlantic Council showed the prototype 'mBridge' platform, which is being ‌tested by central banks in China, Hong Kong, Thailand, the United Arab Emirates and Saudi Arabia, had now processed more than 4,000 cross-border transactions.

The cumulative $55.5 billion value of those payments represents a roughly 2,500-fold increase since the project's early days of 2022, with the digital yuan estimated to now account for approximately 95% of the volume.

The e-CNY, as it ‌is also known, remains the world's largest live central bank digital currency experiment.
...
Click to expand...


Still early stages, but it seems to be gaining traction
 
Hong Kong will sign an accord with Shanghai next week to establish a cross-border gold trade clearing system, a move the finance chief has said will bolster the city’s push to become an international trading hub for the precious metal.

Financial Secretary Paul Chan Mo-po revealed on Sunday that the city and the Shanghai Gold Exchange would sign a memorandum of understanding at next week’s Asian Financial Forum to pave the way for greater connectivity between the two markets.

“We are accelerating the push to establish a central clearing system as a vital piece of financial infrastructure, to enhance the reliability and efficiency of gold trading and delivery in Hong Kong, lower transaction costs and increase liquidity,” Chan said on his weekly blog.

He added that the goal was to launch trial operations within the year and invite the Shanghai Gold Exchange to take part.
...
Click to expand...

www.scmp.com

Hong Kong steps up bid to become global gold trading hub with Shanghai agreement

Two cities set to sign memorandum of understanding at the 19th Asian Financial Forum next week, paving way for cross-border gold trade clearing.
www.scmp.com www.scmp.com
 
pmbug said:
It's not clear if they were actually selling or just not replacing bills that matured.
Click to expand...
:iagree:

Yeah, from what I've read they are just letting the Maturities roll off.

If they brought 20 yr - 30 yr it may take a while :unsure:
 
chieftain said:
So China is selling its T-bills, who's buying them?
Click to expand...
This is a good question. An institutional (or state) holder of Treasuries, wants to sell them.

Does the Fed buy T-bills from holders? I had thought they only bought them at Treasury auctions. Once someone else bought them, it's someone else's problem.

Would a discounted, pre-owned T-bill, closer to its maturity, sell at a discount to bonds offered at Treasury auctions?
 
SKULL said:
If there are no bidders the Fed has to " Print Money & Buy them " as the last resort 👀 :lmao:
Click to expand...

Most likely scenario.

pmbug said:
It's not clear if they were actually selling or just not replacing bills that matured.
Click to expand...

Possible, but the numbers down are higher than non-replacement would indicate?

Casey Jones said:
This is a good question. An institutional (or state) holder of Treasuries, wants to sell them.

Does the Fed buy T-bills from holders? I had thought they only bought them at Treasury auctions. Once someone else bought them, it's someone else's problem.

Would a discounted, pre-owned T-bill, closer to its maturity, sell at a discount to bonds offered at Treasury auctions?
Click to expand...

I don't see anyone else buying, institutional, sovererign or pseudo-sovereign.

I'm not sure how resale would work in the event of holders wanting out.
 

Ray Dalio Sees General Diversification Away From the US​

Jan 22, 2026
"Generally speaking, you're seeing a diversification away from the US," veteran investor and Bridgewater founder Ray Dalio tells Bloomberg's Francine Lacqua. He also says central banks bought gold to diversify from fiat currencies such as the US dollar and the euro. Dalio speaks on Bloomberg Television at the World Economic Forum's annual meeting in Davos, Switzerland.


6:02
 

Could the world move away from the dollar?​

Jan 22, 2026
The dollar has been the world’s primary reserve currency for the best part of a century. But as the alliances and institutions that underpin America’s dominance wither, could the currency lose its privileged position? Rachana Shanbhogue, The Economist’s business-affairs editor, and Henry Curr, economics editor, are joined in Davos by economists Gita Gopinath and Kenneth Rogoff. Together they assess the dollar’s vulnerabilities and ask what could take its place.


9:24
 
searcher said:
Ray Dalio Sees General Diversification Away From the US
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And where will they go? Germany, which is destroying itself FASTER? Britianistan, where apart from City of London, industry has been almost-completely destroyed? Where the nation has become an Islamic model of Paradise - a brothel filled with virgins, for goat-herders to satisfy themselves with?

WHERE is this investment capital gonna go? The best bet seems to be Chy-Nuh...and I don't think I'd want my money riding on the goodwill and moral integrity of the CCP ruling elites.
 
^^^
Yeah. Ray Dalio...should have remembered. What's he saying now? 25 percent gold?

When I read "diversification" I was thinking, moving "money" to other "investments." As in, foreign stawwwkkkkzzzzz....

When I hear of someone buying gold, I don't think of diversification (although it is) - I think of, cashing out. Going off the grid. Going dark.
 
Casey Jones said:
^^^
Yeah. Ray Dalio...should have remembered. What's he saying now? 25 percent gold?

When I read "diversification" I was thinking, moving "money" to other "investments." As in, foreign stawwwkkkkzzzzz....

When I hear of someone buying gold, I don't think of diversification (although it is) - I think of, cashing out. Going off the grid. Going dark.
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Mate, u have it in Reverse.

Gold/Silver is looking into the Bright Light of " Real Money ".

Fiat Currency is the Darkness of the " Underworld " :devilish:

We are so far removed from Fiscal Reality ATM that it's hard to imagine a world where paper money is used day to day but it's backed by the Absolute Integrity of " Real Money ".

( Dalio is a Fucking Globalist :poop: behind the Bullshit Mask he's now trying to wear )
 
Yeah, that's why I don't pay close attention.

But I agree. Maybe it's the way I phrased it, or maybe the language barrier. (I spent a month in Australia; there's English, and there's English...ya know?)
 
Casey Jones said:
Yeah, that's why I don't pay close attention.

But I agree. Maybe it's the way I phrased it, or maybe the language barrier. (I spent a month in Australia; there's English, and there's English...ya know?)
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:iagree:

Us Aussies do have a unique expression of the English language :cool:
 
SKULL said:
:iagree:

Us Aussies do have a unique expression of the English language :cool:
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Bloody hell, mate. Hard to master the bloody lingo...

I got stories. I was on the carrier Carl Vinson, port-of-call in Perth and Hobart, your winter 1994. In Perth, I couldn't get off the day we were anchored and had Liberty Call...I was on duty. So I was kind of alone, when I got off the next day (Duty-Section change) with my laundry.

There was a fine laundromat a few blocks from the pier the water taxi was using. I dumped my clothes into a couple of washers, fed it your funny-money, and went a few doors down for a "bucket of piss."

And walked right into a local-government council meeting, there at the pub...and what fine gents. They heard me order my piss, knew I was another Yank, and invited me over to have a seat. Somehow it got out that I knew something of Yankee government (which I did, as a former PoliSci/Pre-Law student in Ohio) and they wanted to talk about our system, their system, the problems the US Navy caused, with its inevitable AWOL cases. Happens every time there's a Navy ship rolling in.

We talked more, about how foreigners would get into the US, through marriage to US nationals, and how the Australian rules were different. How it was handled far-more locally; and how even marriage, even if that marriage had been far in the past, was not an automatic ticket. I should point out that NEVER were these gentlemen patronizing or lecturing. They were intensely curious, and eager to share their own experience. I had about six pints of beer - which I wasn't prepped for, I'm guessing it was 8-percent alcohol. It hit me hard.

And I had forgotten about my clothes. As I remembered, about three hours later, I excused myself and staggered back to the laundry. And my machines were...empty. NO TRACE. Back behind the counter was this red-headed young woman, I expected probably a single mum....sure kept her appearances up. Exactly my type.

I asked about the clothes. "Oh, I saw the machines empty; and then saw they were Navy clothes; so I took them out, and put them in a dryer, and then folded them." They were neatly folded and stacked. Holy sheep-shearing! To make it worse, she refused any payment.

I'd have taken her out to dinner that night, but all that potent beer hit me hard. I was obviously in my cups. ANOTHER opportunity lost...
 
Casey Jones said:
Bloody hell, mate. Hard to master the bloody lingo...

I got stories. I was on the carrier Carl Vinson, port-of-call in Perth and Hobart, your winter 1994. In Perth, I couldn't get off the day we were anchored and had Liberty Call...I was on duty. So I was kind of alone, when I got off the next day (Duty-Section change) with my laundry.

There was a fine laundromat a few blocks from the pier the water taxi was using. I dumped my clothes into a couple of washers, fed it your funny-money, and went a few doors down for a "bucket of piss."

And walked right into a local-government council meeting, there at the pub...and what fine gents. They heard me order my piss, knew I was another Yank, and invited me over to have a seat. Somehow it got out that I knew something of Yankee government (which I did, as a former PoliSci/Pre-Law student in Ohio) and they wanted to talk about our system, their system, the problems the US Navy caused, with its inevitable AWOL cases. Happens every time there's a Navy ship rolling in.

We talked more, about how foreigners would get into the US, through marriage to US nationals, and how the Australian rules were different. How it was handled far-more locally; and how even marriage, even if that marriage had been far in the past, was not an automatic ticket. I should point out that NEVER were these gentlemen patronizing or lecturing. They were intensely curious, and eager to share their own experience. I had about six pints of beer - which I wasn't prepped for, I'm guessing it was 8-percent alcohol. It hit me hard.

And I had forgotten about my clothes. As I remembered, about three hours later, I excused myself and staggered back to the laundry. And my machines were...empty. NO TRACE. Back behind the counter was this red-headed young woman, I expected probably a single mum....sure kept her appearances up. Exactly my type.

I asked about the clothes. "Oh, I saw the machines empty; and then saw they were Navy clothes; so I took them out, and put them in a dryer, and then folded them." They were neatly folded and stacked. Holy sheep-shearing! To make it worse, she refused any payment.

I'd have taken her out to dinner that night, but all that potent beer hit me hard. I was obviously in my cups. ANOTHER opportunity lost...
Click to expand...
A fine story mate. A memory long held.

I too am curious about America, but given current events in the USA, mmm, I will keep to myself ( & my stack ) in a quiet AUS minor city.

It's a fine & warm summer day. Time for a ride on my Harley & to forget the real world for some time.

Enjoy ur day in the USA mate.

:cool:
 
Casey Jones said:
..I was on duty. So I was kind of alone, when I got off the next day (Duty-Section change) with my laundry.
Click to expand...

Casey Jones said:
with its inevitable AWOL cases
Click to expand...

You brought back some memories with your post 🍺

Missed 2 ship's parties because of duty days.

Knew several guys who hooked up with chicks and stayed gone until they ran outta money then turned themselves in at the main gate in the PI. One guy did the same in HK and was caught by the HK police and turned over to the Brits (transferred him to us.) And one guy who wanted to split the scene (here in the US.) Knew all of them (not a bad word to say about them lol.) They all got the same thing: Restricted to the ship for 2 months, a large fine and EMI.

Good times lol
 
Rogoff is such a tool. The dollar has been losing its privileged position for many years. Obama was the one who kicked it into high gear when he weaponized SWIFT as a tool to enforce economic sanctions on Iran.
 
The Reserve Bank of India's holdings of US Treasury bonds have fallen to a five-year low as India pushes to support rupee versus the US dollar and diversify its forex reserves, joining a broader shift by some major economies out of the world’s biggest bond market.

RBI's holdings of long-term US bonds have dropped to $174 billion, down 26% from a 2023 peak, according to US government data made available last week. US Treasury bonds now account for one-third of India's forex assets, according to RBI data, compared with 40% a year prior.

As gold and other alternatives take a larger share of RBI's forex reserves, the shift mirrors moves by bigger holders like China, reviving questions about US exceptionalism and the role of its debt as a reserve asset. ...
Click to expand...

More:
www.hindustantimes.com

India offloads US bonds, piles up gold in pivot away from dollar assets

RBI's holdings of US treasury bonds have fallen to a five-year low as India pushes to support rupee vs dollar and diversify its forex reserves.| Business News
www.hindustantimes.com www.hindustantimes.com
 
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