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Jim Bianco: Stop Waiting For Fed Pivot + Bitcoin Decoupling from Risk-on Assets

Coin Stories

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The Fed Is the Banker for the Treasury

The stock market has been down 25% at its lows, about two weeks ago, more than 30% on the NASDAQ. That would rank as one of the two or three worst years in the last generation for the stock market should it end here. The treasury has been issuing bonds and they've still been getting their bonds issued, but at much, much higher interest rates to move this paper. But if these interest rates stay at these three, four, five percent levels in the next several years, the interest burdens on the US taxpayer are going to grow quite a bit.

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