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Beginning of the end of the US Dollar as a reserve currency.
We Americans are so fucking boned.
I wonder if other countries will be following suit, or what. This seems like a drop in the bucket.
It’s more an indication of the way the wind is blowing than a big financial move.
There’s 170,000 people enrolled in that particular pension fund meaning participants invested $590 in UST on average. Not exactly a mind blowing amount but still nice.
Divesting because of US being too indebted is bollocks of course, for now US is still the issuer of their currency and they get effectively unlimited money as long as USD remains global trade currency (which means killing own production but Trump isn’t really all that successful at restarting it so far).
