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Speaker 1: If the debt can't be canceled and it's not going to be paid off, well then is this just

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Speaker 1: slowly going to keep getting worse or will something actually break? I want to show you a

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Speaker 1: tweet from someone who spent 30 years trading U .S. interest rates, but his answer is yes,

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Speaker 1: this breaks and probably very soon. The 30 -year rate is at 5 .6 % right now. He says that

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Speaker 1: we will soon see 6%, maybe 7%, and within the next six months, we find out what it looks

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Speaker 1: like when the treasury market breaks. His whole argument basically comes down to this idea

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Speaker 1: of what's called a fulcrum, right? The fulcrum is the point in the middle that everything

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Speaker 1: sort of balances on. Now, in the financial system, that is the U .S. Treasury market, aka

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Speaker 1: the bond market. Every loan, every mortgage, every stock price depends on it. And his rule

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Speaker 1: as a trader is that you never mess with this fulcrum. But we did. How is the U .S. stock

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Speaker 1: market worth more than every market in the world combined? His answer is the U .S. got

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Speaker 1: access to cheap money, leaning on the bond market, which was effectively fueled by the most

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Speaker 1: rock -solid stable asset in the world, real estate. So the bond market holds up everything.

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Speaker 1: And who was holding up the bond market? For a long time, it was China.