Bond crisis deepens
With bond yields breaking higher everywhere, all credit markets are facing spontaneous combustion.
Summary and conclusion
Finally, it appears that bond yields in the US and all other G7 nations are rising above the consolidation zones of the last three years. Higher bond yields will be a catastrophe for both businesses and governments, bankrupting many of the former and making the latter’s bonds uninvestible.
In their summer torpor, financial markets seem oblivious to these dangers. But this may be beginning to change. For investors, the consequences for their wealth tied up in all forms of credit including fiat currencies will be disastrous. Those who have sought the safety of real, common-law legal money without counterparty risk which is gold and secondly silver are the only people with protection from this looming catastrophe.
