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Treasury Bonds on the Global Balance Sheets of Central Banks
i was in south coda this week end. And i was there with eric yakes, the seventh property book? Yese? I haven't read it yet. But at eric i gave a presentation that i was very impressed with. And the stat that he said that stuck with me is that us. Treasury bonds have gone from representing 72% of global reserves down to 59%. People can say, old people will always buy our debt. Perhaps true. But youe got ta look at the trend, right? And the trend is your friend, or it's not your friend.