China and Russia are pushing finally pushing back.
Saudi Arabia are saddling up with the BRICS Nations which will put an end to the petrodollar hedgemony.
Not to mention Bank of Japan continuing to dump USD to support the Yen.
They've only spent 54 billion to prop up the Yen thus far.
They still have 1.2 trillion worth of USD ammo to dump.
The longer dated bonds yields are looking really precariously placed atm.
I can't recall ever seeing this.
Twenty & thirty year bonds now yielding less than the six month bond.
Why would anyone want to buy longer dated bonds?
There's the risk of sovereign default yet no incentive to take on that risk.
The problem is no one does want to buy them. This means the US can't access longer term debt without the Feds help.
Just imagine the damage this will inevitably cause the US when all this short-term debt rolls of their balance sheet.
We are witnessing the death of the USD as the reserve currency.
The question is not if but when?
Gold will be the canary in the coal mine.
(20min delay)