Jim Rickards: Bye-Bye China's $1.2 tn of US Treasury Reserves!

[OROBTC]

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MASSIVE news if is true and shakes out as Rickards writes in a tweet tonight.  He is extremely well-connected and a best selling author on finance.

https://twitter.com/JamesGRickards/status/1306055964211191814?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1306055964211191814%7Ctwgr%5Eshare_3&ref_url=https%3A%2F%2Ftheconservativetreehouse.com%2F2020%2F09%2F15%2Fwow-chinese-virologist-dr-li-meng-yan-blows-whistle-on-china-manufacturing-covid-19%2F

That $1.2 tn would go a long way.  China would also get some of that KARMA back at 'em.

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[stompix]

MASSIVE news if is true and shakes out as Rickards writes in a tweet tonight.  He is extremely well-connected and a best selling author on finance.

He is so well connected that he doesn't know it's been two years since China doesn't hold 1.2 trillion of bonds, the latest data is 1.07
Seriously, are we going to discuss whatever bs someone posts on twitter?

Especially coming from the guy that said:

I haven't said much on Bitcoin lately, but every now and then it's not a bad idea to remind people that it serves no purpose other than gambling and criminality:

[Darker45]

I highly doubt this will ever happen, not with $1 trillion, not even with $1 billion. I don't know how well-connected Rickards is but I think he's got a wrong info here. Or it might simply be a speculation coming from a very fertile imagination.

This decision, if it happens, may be bad for China but it certainly is much worse for the US and its weakening reputation. This will look like a quarrel over two bullies. In the process, the bully who is trying to bully the other bully will create a bad name for itself but not on the one bullied. China will look like a poor victim here. And being a bully, it will simply leverage it for its own selfish motives.

While China should be made accountable for this pandemic, resorting to this bullying tactic is of very poor taste. This is hostage-taking. Cancelling a trillion-dollar debt? If ever this happens, an economic war of some sort would certainly ensue. I doubt China will just take it lightly. And worse, who would now trust the US following this decision?

[HeRetiK]

Apart from the likeliness of this just being some bullshit made up to stir the pot -- wouldn't that pretty much ruin the credibility of the US? Not that I know much about economics but that sounds like it would be a perfect move to dismantle the USD as a global reserve currency.

Also each country is responsible for its own handling of the pandemic. If a government drops the ball and fails to protect their own citizens then only they are to blame. Everything else is child's play.

[int03h]

This source needs to be verified because $ 1.2 trillion is a pretty big number. This use of 1.2 trillion needs to be justified before the conflict between the two countries can escalate. Shortly, these conflicts may turn into a war between China and the US in the East Sea.

[el kaka22]

Aside from the fact that this has been done like so long ago, and even if there was one right now ; this is not bad for china, why do people think this is bad for china? The idea of a nation selling another nations treasury bonds because they do not want to wait or they do not trust or they think it became less valuable means that the nation that gave the treasury bond is in fact the one in question here.

If I have USA treasury bonds and I want to sell them, that doesn't mean anything good for the USA treasury not me, I already have it, and I do not need the money because let's be honest I am china and can do whatever the hell I want including starving my people out if I want more money and sell the food instead, I am all powerful and all mighty in my nation, it is USA that should be scared of this.