More Fallout from Trump’s Economic War as Turkey Joins Russia In Liquidating US Treasuries
NOVANEWS
The Turkish selloff certainly continued into July and August as U.S. relations with Turkey deteriorated this week after President Trump doubled steel and aluminum tariffs to pressure the nation to release a jailed American pastor.
By ZeroHedge.com
Last month, when we reported that Russia had liquidated the bulk of its US Treasury holdings in just two months, we said that “we can’t help but wonder – as the Yuan-denominated oil futures were launched, trade wars were threatened, and as more sanctions were unleashed on Russia – if this wasn’t a dress-rehearsal, carefully coordinated with Beijing to field test what would happen if/when China also starts to liquidate its own Treasury holdings.”
As it turns out, Russia did lead the way, but not for China.
Instead, another re...