The Entire Global Financial System Could Collapse
“So who’s going to buy it? Who in their right mind would be buying bonds with a negative yield? It’s just so preposterous. And all of the sudden if the bond buyer is not there — we used to think it was so great that China would buy our bonds. They don’t buy our bonds (anymore). Russia used to buy our bonds — they (now) sell our bonds.
The only entities buying the bonds are the central banks. Well, you take the central bank out of it and there’s no bid. That’s why I use the phrase, ‘I hope we are not right one day,’ that all of the sudden it (the entire global financial system) just collapses."