They called me an alarmist... | When in 2010 I said America's debt was out of control. | When I warned it would unleash a wave of civil unrest, society collapse, inflation, and currency debasement, they called me crazy. | When I said the dollar's reign was coming to an end… that interest payments would one day overwhelm our budget… they said: that'll never happen here. | And yet – here we are. | America's national debt just blew past $37 trillion. | In the first eight months of this fiscal year alone, we've already spent $855 billion more than we've collected. | And now, we're spending more on interest payments than we do on housing, transportation, higher education – even the military. | The unravelling has begun. | JPMorgan CEO Jamie Dimon just warned about "a bond market crack." | America has lost its AAA credit rating… | And one of the world's most respected bond investors, Jeffrey Gundlach, recently put it like this: "A [debt] reckoning is coming." | The world no longer trusts America to pay its bills. And they're beginning to walk away. | This is what the start of a sovereign debt crisis looks like. That's why 10-year bond yields have spiked – we're a risky bet: | | | | This is no longer about the future. We're entering the crisis phase of a collapse that began 15 years ago… a crisis I warned about in my controversial documentary, The End of America. | Everything we've seen since… the destruction of the dollar, America's credit downgrade, the civil unrest, and surging inflation… it's all playing out just as I forecast. | But I'll admit something here that's difficult for me: | I actually believed President Donald Trump would deal with this. I believed his team when they told me, face to face at his private club Mar-A-Lago, that this threat would finally be addressed. | Instead, they've accelerated it. Trump is on pace to add more debt than former President Joe Biden. | I can't help but feel betrayed. | As I explain here, the tariffs are a last ditch attempt to get you to pay for the debt. | And the much-hyped DOGE, that was supposed to claw back $2 trillion… it saved less than 10% of what it promised, before protestors burned Elon's Teslas to chase him out of D.C. | Let's be honest, there's no willpower in Washington to fix this. | I was wrong – foolish even – to believe otherwise. | History tells us what happens next, and it's not pretty. The kind of debt collapse normally reserved for crackpot economies like Argentina, Vietnam, and Greece is barrelling toward us. | I know that is hard to believe. | Some people will find that impossible to accept, until it's too late. | So, let me show you. | The debt spiral cannot be reversed. The dollar cannot be saved. | Now it's just a question of who prepares and who doesn't. Who takes action to move their wealth out of harm's way and into the investments that stand to thrive in a debt crisis… | And who leaves their future in the hands of forces they cannot control, forces that will devastate everything in their path. | That's why I recorded this critical new video, to help you get ahead of this growing crisis while you still can. | I'll show you: | -How America has just entered a full-scale debt collapse that millions are not prepared for… | -The breaking point that almost no-one has spotted… | -And the exact moves you can make to shield yourself from what's coming – including the name of my #1 high conviction stock to buy today. | Go here to watch now. | | | | You can believe the headlines. You can believe Trump. Or you can believe your own eyes. But if you're waiting for Washington to solve this, I believe you're making a fatal mistake. | Because time is running short. | Go here and let me explain everything. | A MESSAGE FROM OUR PARTNER |
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| | Where the Real Tension Is Showing | The Treasury market isn't collapsing — it's reorganizing itself around a new fiscal reality.
On the surface, yields look steady. The 10-year has hovered near 4.00% for most of late November, a level that signals calm. But auction data tells a different story: demand is shifting, pricing is shifting, and the risk profile of U.S. debt is being reconsidered in real time. | The strongest signal came on November 26 during the $44 billion sale of 7-year notes. The bid-to-cover ratio fell to 2.46 — the lower end of its annual range — and the auction cleared at a yield above market expectations. A week earlier, the 20-year auction also required a premium to move.
These aren't failures. They're symptoms of a market that wants more compensation to hold long-dated U.S. debt. | The term premium is widening. The 30-year yield pushing toward 4.70–4.80% confirms it. Investors are willing to lend to Washington — but only at a price that reflects the math of the federal balance sheet. That math changed this year. | For 2025, the Congressional Budget Office recorded a deficit of $1.8 trillion, and for the first time in U.S. history, interest payments on the debt crossed the $1 trillion threshold. They now exceed national defense spending and are second only to Social Security.
Washington can debate policy details, but the bond market is responding to arithmetic. |
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|  | | | Presented by Porter & Co. | |
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| | What Global Capital Is Signaling | The adjustment isn't just domestic. It's showing up in cross-border flows. | The dollar index slipped below 100 in late November, dipping toward 99.50 — a symbolic level but a telling one. While the dollar remains the world's anchor, marginal demand is sliding. Official buyers are diversifying, and the clearest beneficiary has been gold. | Central banks purchased 220 tons of gold in the third quarter alone — a 28% jump from the previous quarter. These aren't retail flows chasing headlines; these are sovereign balance sheets reallocating toward hard assets. With gold holding above $4,000 per ounce, the message is straightforward: global institutions want less exposure to long-dated U.S. duration. | This shift doesn't imply a crisis. It implies a reprioritization.
The world isn't walking away from Treasuries — but it is changing how much risk it's willing to absorb and at what price. |
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| What Savers Should Understand Now | For households, allocators, and retirement savers, the consequences are subtle but significant. | The era of "return-free risk" in long-term bonds is gone. What replaces it is an environment where short-term yields remain attractive, long-term yields stay volatile, and the traditional 60/40 portfolio loses some of its stabilizing power.
Cash rates will likely fall next year — markets expect a December cut — but long-term bonds may not follow. This divergence is the defining feature of the new regime. | The bond market isn't punishing the U.S. It's repricing the duration risk Washington is asking the world to hold. | And that repricing is happening through orderly markets, not panic or disorder — which is precisely why many investors are missing it.
A shift doesn't need to be loud to be real. |
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| | | | | | | | | Final View | America isn't facing a sudden collapse. It's facing a reset: a slow, steady adjustment in how the world values U.S. obligations. That adjustment is already visible in auctions, in global reserve flows, and in the structure of the yield curve. | For savers, the message is simple: this environment rewards flexibility, caution, and shorter horizons — not blind confidence in what worked before. The rules aren't breaking, but they are changing. |
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| | Written by Deniss Slinkins
Global Financial Journal |
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