The US Government will be defaulting sometime early June, this is a 1971 US default repeat where the US Government cannot depeg the dollar from a hard asset this time is indeed different.
Why has this been the fastest rate rise cycle in history for the US and other leading GDP countries? simple they need inflation near zero to start QE to infinity to stop the government bonds defaulting causing another great depression.
I bet nobody knows the names Bill Martin, and Arthur F. Burns? why you ask, they've been in this situation before and tried to ramp the rates to stop a default and failed, forced to depeg the dollar from gold as a last resort.
Here we are again, there's no gold peg, there's no hard asset we've ramped the rates EVEN faster inflation has barely gone near 4.5% Treasury is defaulting there is terrible GDP growth, and on top of that the only way out is QE to infinity or US defaults on the debt taking every large global bank, financial institutions, giant companies down with it that relies on these interest payments to stay afloat.
This is a bomb bigger than 2009 and 1931 combined, the 1 Month bonds have spiked faster than ever in history because the market believes the US government can't make the payments within a month.
CDS insurance on the USA is going parabolic.
With an asset like Bitcoin I would love to hear why anybody would be willing to sell / exit out of it? bank deposits are collapsing due to the rich pulling funds out scared of the default not alerting the public.
1. The US government admits defeat and defeat its a run to hard assets, Gold, Silver, Bitcoin its the moment of panic "Get the hell out of banks and bonds" the biggest finance market in the world.
2. The US Government announces a Yield-Curve-Control / Quantitative Easing program EMERGENCY dropping rates back to 0% and inflation is now on its way to 20%+ there is no stopping it this time.
Keep money in the banks waiting to buy a dip, you might just lose everything, keep money in the bank during a YCC / QE launch there will be capital controls and you're no longer allowed to spend your money all at once to stop the "inflation".
Bitcoin could do something crazy here be aware.
I have to give credit to Jerome Powell for taking on the hardest finance job in financial history, he tried to beat the D Day risked breaking everything to bring inflation down, he did get close but the debt ceiling has won.