The U.S. dollar depends on this market
I am talking here about the collapse of the largest bond market in the world – the market for U.S. Treasurys.
The chart compares the value of long-dated U.S. Treasury bonds (TLT) to the price of gold (GLD).
None of the government's bailout plans will solve any of the problems. Instead of bondholders and shareholders being wiped out, taxpayers are put on the hook.