As it becomes increasingly obvious that the Treasury is entering a debtor’s spiral, investors will stampede into cash and gold, causing the yield curve to steepen.
‘Five thousand years is a long time. The Ammonites, Sumerians, Hittites, Israelites – imagine the proto-Bernankes of the first millennium B.C. – Ephraimites, Angles, Saxons, Britons, Franks, Vandals,…
