Let's talk about the impact of global treasury bond on the market trend. I have talked about the logic of treasury bond many times before. These two days, the yield of treasury bond broke through a new high, and suddenly there was more talk about KOL. The main reason for the soaring yield of treasury bond is that no one accepted the offer. There will be panic in the short term. The market is afraid of whether the treasury bond will collapse and whether the stock and debt will kill each other. Old Fish gives a reassurance that not only will it not collapse, but the market will also experience a decline followed by a surge. The scale of US debt is approaching 40 trillion yuan, and the future debt scale will only grow larger and larger, so it is impossible to repay the debt. There is only one short-term solution to the debt problem, and the Federal Reserve has invented a new liquidity tool to print money to take over US bonds. For example, at the end of last year, Powell invented RMP to release water. The only long-term solution to debt is debt monetization, and the only solution to inflation is soft inflation. The depreciation trend of currency is inevitable. To be precise, gold, Bitcoin, and the stock market are all passively rising. With more and more currency, there is no way out, and real estate is not doing well. Massive amounts of currency are either idling among the banking system or running to financial institutions. The essence of the global treasury bond problem is the same. As long as it is not foreign debt, the bond market of major countries will not collapse. As long as it is not hyperinflation, it is not inflation. All fiat currencies in the world are credit currencies, and everyone is playing the same game. Some people may say that Old Fish is nonsense, but the United States clearly dislikes inflation and fights against it. This is childish, just telling the people how much can be bought with 100 dollars ten years ago, and how much can be bought with 100 dollars now? Calculate the depreciation of this purchasing power. The so-called 'the road to simplicity' means that financial games are essentially just a few sentences. There's really no other way besides printing money and taking on debt.