De-dollarization: China drops US Treasury bonds, instead buys gold, oil, metals

China is reducing its holdings of US Treasury securities. Instead, the People's Bank of China is buying gold, and Beijing prioritizes imports of important commodities like oil and metals. Ben Norton discusses the geopolitical impact of de-dollarization in the world's largest economy. Check out our related video - “How the dollar's 'exorbitant privilege' enriches the USA (and global elites)“: Topics 0:00 Why countries are de-dollarizing 1:05 Russia & China 1:41 Brazil & China 2:18 Persian Gulf oil & gas 3:29 Central bank FX reserves 4:54 China drops US Treasurys 6:15 Debate in Beijing 8:40 Gold 9:37 Charts: China buys metals & oil 11:21 Strategic petroleum reserve 11:53 Belt & Road Initiative 12:50 East Asia funds US deficits 14:25 Global South funds Global North 15:25 Japan replaces China as top US creditor 16:03 US inflation, interest rates, bond yields, & d