U.S. Treasuries are now the ultimate risk asset, as losses are guaranteed. There are only two possible outcomes, default & deflation, or devaluation & #inflation. The latter option is more politically expedient, which means everyone who owns U.S. #dollars will also get destroyed. #us #bonds #dollars #debt #default #inflation #deflation #destroyed #politics #risk #assets #american #economy #gold #stockmarket #crash #investors