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Aside from American financial institutions and the Fed (the buyer of last resort), the largest buyers of US Treasuries and notes are all Asian countries. You can probably guess which ones.
#1 – China
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China, more than anyone, is probably most concerned with the value of the US dollar and the stability of their US dollar investments. [...]
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Australia just became the first major central bank to raise its interest rate (today, October 6, 2009) since the beginning of the financial crisis of 2008-2009. From 3.00%, it raised rates 25 basis points to 3.25%. So what? What does this mean, you might be asking?
Below I’ll take a look at some of the effects [...]
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The US dollar has served in the role of world reserve currency since 1944, but there is nothing intrinsic about the US dollar which requires that it – and not some other, new currency – continue to fulfill that function. If anything, the long-term secular decline in the greenback since 2001, coupled with much more [...]
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In a report published Monday, September 7, 2009, the United Nations Conference on Trade and Development acknowledged that the U.S. dollar must be replaced as the world’s reserve currency.
According to this article by Stephen Webster, Heiner Flassbeck, director of the conference, said that the changes currently demanded by the world’s financial systems “rival the scope [...]
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China’s massive foreign exchange reserves are the largest in the world, comprising a total of $2,132 billion or $2.1 trillion dollars’ worth. Of this amount, $1.5 trillion are held in US Dollar-denominated assets such as cash, bonds and treasuries. When you do the math, about 71% of China’s total foreign reserves are in US Dollars. [...]
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