Goodbye, 'paper wealth': China's massive sell-off collides with a $5 trillion global 'flash crash' night Beijing is accelerating its decoupling: China's holdings of U.S. Treasury bonds have dropped to $682.6 billion (the lowest since 2008), while gold reserves have increased for 14 consecutive months, soaring to a historic high of 2,306 tons. But just this morning, the global market collectively 'flipped the table': an hour of chaos—after the U.S. stock market opened, nothing was spared, from Bitcoin to precious metals. Brutal numbers: Gold down 8% (wiping out $3.1 trillion), silver down 12% (wiping out $700 billion), and the crypto market shrank by $110 billion. Epic evaporation: $5 trillion vanished in an hour, a scale equivalent to the combined GDP of Russia and Canada. Losing $5 trillion in an hour—this speed of losing money is faster than a printing press can keep up.