“It’s not a banking system problem. It’s a US Treasury G7 sovereign debt, balance of payments problem. Treasuries underpin everything. It’s the collateral for the whole system. So if we’re going to have a Treasury problem, we’re going to have an everything problem.” – Luke Gromen, Forest for the Trees
USAGOLD note: A different perspective on the banking crisis that, some will say, goes to the heart of the matter…… TLT is an ETF holding only US Treasuries. Many analysts use it as a proxy for tracking the US sovereign debt market.
TLT (US Treasuries ETF)
Chart courtesy of TradingView.com