Three members of the Brazil, Russia, India, China and South Africa (BRICS) economic bloc disposed of billions of dollars in US treasuries in one month, the most recent report from the U.S. Treasury Department shows.
According to data from the Treasury International Capital (TIC) System, Brazil, China and India together dumped $51.2 billion worth of US treasuries in March. China disposed of the highest amount in March, offloading $41 billion, followed by India, which sold $7.6 billion worth of US treasuries. Brazil dumped US government debt valued at $2.6 billion over the same period.
Since March of 2025, the three BRICS countries have offloaded more than $200 billion worth of US treasuries. China has dumped $113.1 billion worth of US government debt while India and Brazil have offloaded $56.9 billion and $40.4 billion, respectively, over that period.
The TIC report comes amid a warning by former U.S. House of Representatives member, Ron Paul, who says that various factors now pose a threat to the US dollar’s global reserve status.
According to Paul, the Federal Reserve could be forced to ease monetary policy by political forces and this could result in further decline in the dollar’s value. Paul further says that disruptions related to the Iran war could trigger a global debt crisis as governments around the world default.
“The disruptions could also lead to new challenges to the dollar‘s world reserve currency status — the petrodollar system linking the dollar to oil.”
If the dollar loses its global reserve status, Paul says, the US could experience hyperinflation.
“The end of the petrodollar and the dollar’s world reserve currency status will likely lead to major inflation as the Fed desperately pumps money into the economy to monetize ever-increasing levels of federal debt.”
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