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And it means the US Treasury market is set for an out-of-control interest rate spiral.

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It means the US can’t borrow with ‘exorbitant privilege’ anymore.
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Counting obligations under Medicare and Social Security.
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Essentially would be the death knell to the US Dollar as the reserve currency.
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No one was ever legally required to pay money to Madoff.
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The petroDollar system breaking down, where oil is no longer paid for in Dollars internationally.
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For those who unfairly lump Social Security in with Bernie Madoff.
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In all fairness, you should point out the difference.
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And it means the US Treasury market is set for an out-of-control interest rate spiral.
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The real debt of the United States is more than 10 times the reported national debt.
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