> the u.s. stole russia's foreign currency reserve account so they started briics and now the u.s. is shitting bricks as the us bond market implodes. brics was around before that but snatching the reserves is why nobody in the world wants to hold usd anymore and you are correct the treasury market has entered what will likely be a multi decade long secular decline (in price, meaning rates go up), especially at the long end. this will destroy every over-levered enterprise in america, which is good and needs to happen but will cause much kvetching.
United States