China has been offloading its US Treasury holdings for years. Once the top holder of US debt, China cut its US Treasury holdings for the third consecutive month this May. Total holdings have fallen to $756.3 billion from $757.2 billion in April, according to the US Treasury, marking the lowest debt held since May 2009.
As of 2024, China has reduced its holdings by approximately 30% over a four-year period. China was able to use the exchange rate to buy yuan when the currency depreciated. China seemed to be assisting Trump years ago in lowering the dollar to ease trade frictions. That is no longer the case here as the United States began engaging in economic warfare when it pushed Russia off SWIFT, implemented sanctions, and confiscated private assets. Politicians have threatened China with economic warfare over Taiwan, and there is no incentive to hold the debt of your political enemy. It is akin to holding a gun to someone and asking them to lend you money with the promise to pay it back.
In 2013, China held $1.317 trillion in US Treasury securities at its peak holding. Geopolitical rivalry followed as China increased its military presence in the South China Sea and the US responded by forming alliances with neighboring Asian nations and conducting military operations near Taiwan. Former President Obama and Xi Jinping met in 2013 as well amid ongoing conflict regarding arms sales to Taiwan, cyber espionage accusations, and disagreements over North Korea. China offloaded $550 billion in US Treasuries by the end of 2013 and Japan became the largest holder of US debt.
Let us not forget that the Ukraine war sprang up in 2014, and the West installed its puppet government. China observed and responded accordingly. Tensions heightened in 2015 when China continued to assert its dominance in the South China Sea. The US refused to accept the One China policy, despite desperately needing China to remain an ally. Trump’s first term marked ongoing trade wars between the US and China that turned into outright hostility. The Hong Kong protests of 2019 further strengthened ties as the US aligned itself with Hong Kong and once again dismissed the One China policy.
By 2020, China was akin to Russia in terms of being the “communist” enemy of the West. Mike Pompeo delivered a speech in which he declared the end of an era of engagement with China due to intellectual property theft, territorial claims, and human rights abuses. Both Trump and Biden blacklisted Chinese companies and spoke of an ongoing need to distance the US from China rather than form a concrete alliance with its top trading partner.
By 2022, we had Nancy Pelosi and other top politicians visiting Taiwan to show their support for sovereignty. The US vowed to intervene if China attempted to reclaim its territories. Three years ago, the Chinese government warned the provinces and private companies not to borrow dollars. The people and institutions were free to do as they pleased, despite China being deemed an evil communist nation by the West.
All of this was a political farce as the West is selective about which nations it wants to be the moral police over. China will never have the incentive to take on more debt of an enemy nation. The Fed desperately needed China’s participation as its plan was to roll over its debts perpetually, but that is now out of the question. Japan is facing a massive crisis and will be the first to default. What will the US do when no one is willing to buy its debt?
Over 8,000 bank branches are expected to close worldwide in 2025. Approximately 3,200 of those closures will take place in the United States. Q1 experienced 148 net branch closures in the US, with all major banks slated to close branches throughout the year.
These are merely bank closures and not bank failures, although two smaller US banks did fail this year. People simply prefer online banking as we have made the switch from relational to transactional banking.
Bankrate conducted a survey that found 77% of Americans prefer online digital banking, yet other surveys believe the figure is closer to 89%. Digital banking has been rising in popularity in recent years, up from 203 million domestic users in 2022 to the 216.8 million projected users in 2025. The survey found that 34% of consumers use online banking on a daily basis, consistently checking their account and transactions. There has even been a 19% increase in use among the 65+ crowd who is least likely to use digital services.
The total number of bank branches across the US fell below 65,000 in Q2. Texas, New York, and California saw the largest decrease in brick-and-mortar locations. Many branches that chose to remain open are only offering drive thru services. One in three banks has closed in rural areas as there is no demand, and the Federal Reserve noted in its annual Banking Access Report that the number of “banking deserts” across the Midwest is rising.
Banks have no overhead with digital banking services and they do not need to hire staff. The cost-per-transaction for in-person banking is $4.00 compared to only $0.04 for digital. AI is rapidly replacing bank tellers with a 3 to 1 ratio.
The trend is global. The United Kingdom anticipates 370 to 450 branch closures this year. Germany and France are facing 1,100 closures combined. The Asia-Pacific region of the world saw a 16% reduction in bank branches from January to May 2025. Certain nations like Malaysia and Thailand also offer branchless micro-banking kiosks to substitute relational banking.
The money in your bank account is already just an electronic book entry. Not only is there less demand for face-to-face banking, but they are also preparing for CBDCs as bank branches are unnecessary without physical paper money. You can deposit a check on your phone or at a kiosk, but e-checks are rising in popularity. The only thing left for a branch is safe deposit boxes, and the government assumes you are hiding cash there anyway. Relationship banking is becoming a thing of the past, the latest casualty in the cycle of creative destruction.
Main Justice has announced the formation of a DOJ strike force to assemble and assess the evidence provided by Director of National Intelligence, Tulsi Gabbard, against former intelligence and government officials.
This will require the DOJ to take a new approach, extracting information from multiple silos and then overlaying context to the content therein.
That’s essentially the new approach that DNI Gabbard has taken to break down the silo defenses, and this is the first time since I’ve been outlining how they self-protect that someone (DNI) has actually done the extracting and cross-referencing.
Dept of Justice – WASHINGTON – Today, the Department of Justice announced the formation of a Strike Force to assess the evidence publicized by Director of National Intelligence Tulsi Gabbard and investigate potential next legal steps which might stem from DNI Gabbard’s disclosures.
This Department takes alleged weaponization of the intelligence community with the utmost seriousness.
Upon the formation of the Strike Force, Attorney General Pamela Bondi stated:
“The Department of Justice is proud to work with my friend Director Gabbard and we are grateful for her partnership in delivering accountability for the American people. We will investigate these troubling disclosures fully and leave no stone unturned to deliver justice.” (LINK)
Don’t underestimate how radical and challenging this type of an approach is going to be.
OIG Michael Horowitz never could attempt it (not authorized), SC John Durham was not permitted to do it (not authorized); the House Select Sub-Committee on Govt Weaponization ran away with hair on fire at even the suggestion of doing it (ask me how I know), and no modern internal investigative unit has ever been allowed to extract national security information from multiple IC institutions, and review it in context.
The DC intel silos are built so their lack of sharing creates a natural defense mechanism; there is no cross-reference capability. DNI Tulsi Gabbard has the unique ability -due to her position- of reaching into each IC silo regardless of their effort to stop her. That’s what has led to this point.
If the DOJ is successful, things could change; but that’s a very big ‘if’.
The entire mechanism of the USIC, led by defenses from the Senate Intel Committee (Cotton), will do everything to stop any internal extraction and review of their silo information. “National security” claims will run rampant. This will be a heavy lift requiring Executive Office support and coordination at every level.
The Japanese essentially did not want to face a 25% tariff on automobiles exported to the USA. At the same time, they did not want to permit full USA access to several sectors of their market. The solution is quite remarkable.
Japan agrees to be the bank, to essentially finance any national security priority of President Trump to the tune of $55o billion. In return, Japan gets a 15% tariff on automobiles, and 10% return on the profit of the ¹business they finance in the U.S. Japan is essentially purchasing a lower tariff rate.
PRESIDENT TRUMP – “We just completed a massive Deal with Japan, perhaps the largest Deal ever made. Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits. This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it. Perhaps most importantly, Japan will open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things. Japan will pay Reciprocal Tariffs to the United States of 15%. This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan. Thank you for your attention to this matter!”
Commerce Secretary Howard Lutnick explains:
EXAMPLE: President Trump wants generic drug manufacturing in the USA. U.S. company ‘Main Street Drugs’ agrees to build a $100 billion manufacturing plant. Japan finances the building and company creation. Main Street Drugs owns and operates the business, keeps 90% of the profits, Japan gets 10%.
Trump (USA) has $450 billion in financing left to spend on the next priority, perhaps a railroad connection or transit system.
Pretty cool, solution.
President Trump travels to Andrew W. Mellon Auditorium today to deliver remarks to an Artificial Intelligence summit and sign an executive order. The anticipated start time is 5:00pm with Livestream Links Below:
UPDATE: VIDEO ADDED
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Today, Director of National Intelligence (DNI) Tulsi Gabbard declassified and released the 2020 House Permanent Select Committee on Intelligence report (HPSCI), that outlines their investigation into the Intelligence Community Joint Analysis Report (JAR) of 2016 and the Intelligence Community Assessment (ICA) that followed.
I know that’s a lot of acronyms, however, the key element of Director Tulsi Gabbard’s release today is to underscore just how fraudulent the JAR/ICA created in 2016 and 2017 was. The JAR/ICA report was fabricated by the CIA and Intelligence Community to give the appearance of Russia interfering in the election. The declassified HPSCI report takes that fraudulent intelligence analysis apart, step by step.
The JAR/ICA was also used to justify President Obama expelling Russian diplomats, confiscating Russian property, targeting Russian officials for sanctions, and imposing a series of sanctions against various Russian entities, individuals, groups and organizations. All of the Obama’s Russian targeting effort was part of an enhanced IC op to give additional patina of credibility to the fraudulent premise.
In many ways, Russia was collateral damage created by a domestic USA political intelligence operation run by Obama allies in order to attempt to destabilize the incoming administration of President Donald Trump. ¹The framing of both Donald Trump and Russia is going to be a key facet to accept as time moves forward on this story.
Tulsi Gabbard gives a press conference. WATCH:
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I will have more on the Tulsi release of the HPSCI report shortly. In the interim…
¹The timing does not appear to be accidental. President Trump gives Russia 50 days to come to the negotiation table and end the conflict in Ukraine. A few days later, DNI Tulsi Gabbard begins releasing information that shows both President Trump and President Putin being framed by the U.S. Intelligence Community.
It would appear that President Trump is setting a new baseline for a relationship with Russia. However, first the tables need to be cleared of the historic manipulation and targeting that structurally, and fraudulently, set the course of conflict and antagonism in U.S-Russia relations.
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