American Treasury bonds are backed by the “full faith and credit” of the United States government. Whenever there is economic turmoil in the world, many investors make a “flight to quality” by investing in America’s bond market. American Treasuries (bonds, bills and notes) are a “safe haven” for foreign investors in the present nightmarish world of collapsing global economies.
But what if that all changes? Can it change? As many international journalists are quick to point out, we Americans deceive ourselves by arrogantly thinking we are invincible.