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As the world teeters on the edge of all out war, gold and Treasuries head in opposite directions. Gold and silver break out, and the bond market breaks down.

Interest rates on the 10Y break 5%, and there appears to be nothing that can stop the relentless climb of yields. Except the Federal Reserve of course, which would have to destroy the dollar in order to arrest the climb.

This they will do, but only when they have no other choice, and that dichotomy won't be on full display until there are no more spare dollars to bid on Treasury auctions. That looks to be 12-15 weeks away.

What happens after that? Don't ask. I guess we'll all find out when we get there.

Video Length: 00:15:38

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