Did you know that 2022 was the WORST year for US Treasuries in American history? The benchmark 10-year Treasury fell nearly 18%, and the 30-year Treasury collapsed over 39%. Many other bonds did even worse.
Even if you go back 250 years, you can’t find a worse year for Treasuries, the foundation of the colossal global bond market. It should forever end the ridiculous—yet pervasive—delusion that Treasuries are “risk-free.”
Many people and almost every financial institution have long thoughtlessly accepted this trope. As a result, bonds in general—and Treasuries in particular—became the store-of-value asset of choice and the de facto savings account for savers and investors worldwide.
Today, the global bond market has grown to be worth more than an estimated $133 trillion as the masses parked their savings there because conventional wisdom said it was the “safe” thing to do. By contrast, all the mined gold in the world is worth about $12.7 trillion, less than 10% of the bond market.
It may be tempting to think the worst is over for bonds—it’s not. As you’ll see, the pain for bondholders is just starting. Although most don’t realize it yet, bonds will become a graveyard for capital. They will no longer be the “go-to” savings vehicle because they will no longer be a reliable store-of-value asset.
I believe the opposite will be true; bonds will become a guaranteed way to lose value. Investors will flee them in droves. The implications of that are profound. If not bonds, where will people, companies, and nation states park their savings?
Much of the value stored in the $133 trillion global bond market will move elsewhere—voluntarily to superior store-of-value assets or involuntarily to bankrupt governments and their cronies as they accelerate the largest wealth transfer in history.
That is the Big Picture reality that most people don’t understand… yet. Until recently, bonds had been in a bull market that lasted more than 40 years. Therefore, it’s not surprising that complacency is ingrained and widespread.
The Big Picture
In the post-WWII era, Treasuries were a stable foundation for the global bond market as the US dollar reigned supreme as the world’s premier reserve currency. However, that foundation has rotted. It is on the path to collapse as the petrodollar system falls apart and a multipolar world order emerges.
In short, the supply of Treasuries is increasing at an accelerating rate while there’s a shrinking number of suckers (i.e., buyers).
The inevitable is imminent as the US government can no longer delay or disguise its impending bankruptcy. The US federal government has the biggest debt in the history of the world. And it’s continuing to grow at a rapid, unstoppable pace.
Today, the US federal debt has gone parabolic and is over $32.5 TRILLION. To put that in perspective, if you earned $1 a second 24/7/365—about $31 million per year—it would take you over 1,029,860 YEARS to pay off the US federal debt. And that’s with the unrealistic assumption that it would stop growing.
Observation #1: The US government can’t repay its debt. Default is inevitable.
This isn’t exactly a revelation, but it’s important to remember. Therefore, the question is not whether the US government will default but how. When faced with a choice, politicians always choose the most expedient option. In this case, that means issuing more debt rather than making tough budget decisions or explicitly defaulting.
Consider the recent debt ceiling farce, which raised the debt ceiling for the 105th time since 1944 to avoid an explicit default.
Observation #2: It will not be an explicit default.
In reality, there is no meaningful limit on the debt and spending. Congress is racing towards ever-increasing spending and debt now that they’ve normalized multitrillion-dollar deficits.
Below is a chart of the Congressional Budget Office’s deficit projections for the next decade. These estimates will almost certainly be too rosy, as they often are.
Even by the CBO’s optimistic projections, the US government will have a cumulative deficit of over $20 TRILLION for the next ten years that will have to be financed by issuing more Treasuries.
Observation #3: The debt will continue to grow at an accelerating pace.
Historically, there has been a vast foreign appetite for Treasuries, but not anymore. In the wake of Russia’s invasion of Ukraine, the US government has launched its most aggressive sanctions campaign ever. As part of this, the US government seized the Russian central bank’s reserves—the nation’s accumulated savings.
It was a stunning illustration of the political risk associated with the US dollar and Treasuries. It showed that the US government could seize another sovereign country’s reserves at the flip of a switch.
In short, the US dollar—and Treasuries—have become weaponized in a way they had not been before. In addition to being terrible investments, Treasuries are now clearly political tools for Washington to coerce others. There could even soon be “woke sanctions”…
For example, the US government recently threatened to sanction Uganda over its LGBT policies, which means that countries’ domestic policies may make them targets of US sanctions.
The rising political risk attached to Treasuries has made them even less attractive as a store of value. Many countries are undoubtedly wondering if the US government will seize their savings if they run afoul with Washington in even the most trivial ways.
China is one of the largest holders of US Treasuries, and it indeed took note of what is happening. There’s little doubt that this is the reason China continues to dump Treasuries. Beijing has sold about 25% of its Treasuries since 2021, an enormous change in such a short period. Even US allies, like Japan, have cut their Treasury holdings.
There are numerous other examples. The bottom line is that it’s clear the world isn’t hungry for US debt right now, at the moment when supply is exploding higher.
Observation #4: Foreigners are not buying as many Treasuries.
In the bond market, when demand for a bond falls, the interest rate rises to entice buyers and holders.
However, it is worth noting that the amount of federal debt is so extreme that even a return of interest rates to their historical average would mean paying an interest expense that would consume more than half of tax revenues. Interest expense would eclipse Social Security and defense spending and become the largest item in the federal budget.
In short, allowing interest rates to rise high enough to entice natural buyers would bankrupt the US government because of the higher interest costs.
Observation #5: The US government cannot allow interest rates to rise much further.
So, if higher interest rates cannot entice more buyers, who will finance these growing multi-trillion dollar budget deficits? The only entity capable is the Federal Reserve, which buys Treasuries with dollars it creates out of thin air.
Observation #6: The Federal Reserve is the only significant buyer of Treasuries stepping up, which means currency debasement.
Here’s the bottom line. The US government can’t pay off its debt. They won’t explicitly default. They can’t entice a meaningful amount of new Treasury buyers by allowing interest rates to rise much higher. Then what can they do?
Financial repression is their only practical option… and it will devastate bondholders. It could all go down soon… and it won’t be pretty. It will result in an enormous wealth transfer from savers to the parasitical class—politicians, central bankers, and those connected to them.
Countless millions throughout history were wiped out financially—or worse—during periods of profound change because they failed to see the correct Big Picture and take appropriate action. Don’t be one of them.
That’s exactly why I just released an urgent new report with all the details, including what you must do to prepare. It’s called, The Most Dangerous Economic Crisis in 100 Years… the Top 3 Strategies You Need Right Now. Click here to download the PDF now.
Article cross-posted from International Man.
Starting the Day With a Scripture-Inspired Roast Helps Center Your Thoughts on Eternal Truths Amid Temporal Pressures
The world can seem chaotic, especially right after we wake up. Many believers start their mornings reaching for something familiar — a hot cup of coffee — yet end up settling for mediocre brews that do little more than deliver a caffeine jolt. The daily grind of life, with its endless distractions, news cycles, and responsibilities, can leave even the most faithful feeling spiritually parched alongside their physical fatigue. What if your morning ritual could do more than wake you up? What if it could ground you in truth, nourish your body with exceptional quality, and quietly advance a kingdom purpose at the same time?
That’s the promise — and the reality — behind Promised Grounds Coffee. This Christian-founded company doesn’t just roast beans; it approaches every step as an act of worship and discipleship. By selecting only the top 10% of specialty-grade beans, ethically sourced from dedicated farmers in Central and South America, and small-batch roasting them with reverence in Austin, Texas, Promised Grounds delivers what many describe as the best coffee available — never burnt, never bland, but rich with origin stories and layered flavors that honor God’s creation.
From the vibrant Psalm 27 Roast (a light, bright medium option) to the bold yet peaceful 2 Timothy 1:7 Decaf, each bag carries a Scripture verse that turns your daily pour into a gentle reminder of faith. And through their Ounce Per Ounce Promise, every ounce of coffee you enjoy provides an equal ounce of clean water to families in need via partnership with Filter of Hope — literally brewing hope for body and soul, one cup at a time.
The challenge for today’s Christians runs deeper than finding a decent cup. In an age of convenience-driven consumerism, it’s easy to support companies that dilute values or remain silent on matters of faith. Many believers want their everyday choices — from what they drink to how they spend — to reflect discipleship rather than just convenience. Promised Grounds solves this by weaving Christian excellence into the entire process: beans nurtured with prayerful stewardship by farming families, roasted as an offering rather than a commodity, and packaged with Bible verses to encourage a mindset of gratitude and purpose from the first sip. Reviewers consistently praise the smooth, rich profiles — whether enjoyed black in a drip maker, iced on a warm day, or shared in fellowship — noting how the quality stands toe-to-toe with premium secular brands while delivering something far more meaningful.
This integration of faith and flavor addresses a real need in Christian households and ministries. Busy parents, church leaders, and remote workers alike report that starting the day with a Scripture-inspired roast helps center their thoughts on eternal truths amid temporal pressures. The coffee’s exceptional character — bright citrus notes in lighter roasts or deep chocolate undertones in bolder ones — comes from meticulous selection and careful roasting that respects the bean’s natural gifts rather than masking them. It’s the kind of coffee that elevates a simple quiet time, fuels productive workdays, or sparks meaningful conversations when shared at Bible studies or outreach events. And because it’s ethically sourced with integrity, every purchase supports sustainable livelihoods for farmers who treat their crops like family harvests.
For those leading churches or small groups, the impact multiplies. Promised Grounds offers bundles and options perfect for hospitality ministries, turning ordinary coffee service into an opportunity to point people toward the living water of Christ. Imagine greeting visitors with a warm cup whose very bag carries God’s Word — a subtle yet powerful witness that aligns with the Great Commission. The company’s Texas roots and commitment to “brewing hope” resonate especially with believers who value American enterprise paired with global compassion.
Of course, quality alone isn’t enough if the experience feels out of reach. Promised Grounds keeps it accessible with practical perks like free shipping on orders over $40, sample sets for discovering favorites, and thoughtful add-ons such as faith-themed mugs. Whether you prefer whole beans for fresh grinding, grounds for convenience, or even bulk options for larger households and ministries, the result is consistently superior coffee that makes discipleship feel integrated rather than added on.
As you consider how to align even the smallest habits with your walk with God, Promised Grounds Coffee stands out as a refreshing solution. It tackles the dual problems of subpar daily sustenance and disconnected consumption by offering a product that genuinely excels in taste while advancing a mission of clean water, farmer dignity, and scriptural encouragement. Believers who make the switch often describe it as more than a beverage upgrade — it becomes part of their rhythm of gratitude, a daily invitation to remember that every good gift comes from above.
If you’re ready to transform your mornings (and perhaps your church gatherings) with coffee that honors both exceptional craftsmanship and Christian values, I encourage you to explore what Promised Grounds has to offer. One sip at a time, you’ll be nourishing your body, refreshing your spirit, and participating in something far greater — all while enjoying what truly is among the best coffee available.