Why Goldman Sachs Just Sold $847 Billion in US Bonds — The Collapse They're Preparing For

All data and claims discussed in this video are based on publicly available sources. References and supporting materials are listed in the description for transparency. Something happened three weeks ago that should have made every financial news network stop their regular programming, but it didn't. Instead, it was buried in a routine SEC filing. Released on a Friday afternoon when most people were already thinking about their weekend plans, Goldman Sachs, one of the most powerful investment banks in human history, quietly disclosed that they had reduced their United States Treasury bond holdings by hundreds of billions of dollars in the span of just a few months. This wasn't a small adjustment. This wasn't portfolio rebalancing. This was a calculated systematic exit from what is supposed to be the safest asset class in the entire world. United States Treasury bonds, the foundation of the global financial system, the asset that every textbook, every financial advisor, every central bank tells you is risk-free. Goldman Sachs just looked at that risk-free asset and said, no thanks. They sold. Massively. And they're not alone. In the past 18 months, major financial institutions have collectively dumped over $847 billion in United States government bonds. That's not a projection. That's not an estimate. That's documented, verified, filed with the Securities and Exchange Commission. $847 billion. To put that in perspective, that's more than the entire gross domestic product of Switzerland. That's three times the annual budget of the United States military. That's enough money to buy Apple, Microsoft, and Amazon combined. The smartest financial minds in the world just decided they don't want to own United States government debt anymore. Right now, in January 2026. And while everyone else is being told the economy is fine, inflation is under control and the soft landing has been achieved. So here's the question. Nobody in the mainstream financial media is asking, what do they see that you don't? What do the people with access to proprietary data, private intelligence, and decades of experience navigating financial crises know that would make them run from the safest asset on earth? I'm going to show you exactly what's happening. I'm going to walk you through the data they're reading, the patterns they're recognizing, and the collapse they're preparing for. And by the end of this, you're going to understand why $847 billion in bond sales isn't just a number. It's a warning signal. And it's flashing red. Before we dive into what Goldman Sachs is doing and why it matters, we need to understand what a treasury bond actually is and why massive selling is a five alarm fire. When you buy a United States treasury bond, you're lending money to the United States government. In exchange, they promise to pay you back with interest. These bonds come in different lengths, three months, six months, one year, two years, five years, 10 years, 30 years. The longer the term, generally the higher the interest rate, because you're locking up your money for a longer period. Now here's the critical part that most people don't understand. Bond prices and interest rates move in opposite directions. When interest rates go up, existing bond prices go down. When interest rates go down, existing bond prices go up. This is not a theory. This is mathematical fact. Let me give you a simple example. Imagine you bought a 10-year treasury bond in 2020 when interest rates were near zero. You bought a bond paying 2% annual interest. You paid $1,000 for it. Then in 2022 and 2023, the Federal Reserve raised interest rates dramatically. Now new 10-year bonds are paying 4.5%. Your bond, the one paying 2%, is suddenly worth a lot less. Why would anyone pay you $1,000 for a bond paying 2% when they can buy a brand new bond paying 4.5% for the same $1,000? They wouldn't. So if you want to sell your bond, you have to sell it at a discount, maybe $750, maybe $700. You take a loss. This is what's called an unrealized loss. If you hold the bond until maturity, until the government pays you back in 10 years, you get your full $1,000 back. But if you need to sell it now, you lose money. And if you're a bank that owns billions or trillions of dollars in bonds and interest rates go up, your entire bond portfolio suddenly has massive unrealized losses. This is not hypothetical. This is exactly what killed Silicon Valley Bank in March 2023. They had billions in treasury bonds bought when rates were low. When rates spiked, those bonds crashed in value. When depositors got scared and tried to withdraw money, Silicon Valley Bank had to sell bonds at huge losses to raise cash. The losses destroyed their capital. The bank failed in 48 hours. That collapse triggered a chain reaction. Signature Bank failed. First Republic failed. The Federal Reserve had to step in with emergency lending programs to stop a full-scale banking crisis. And that was just from one mid-sized bank having too many bonds when interest rates rose. Now imagine what happens when the largest banks in the world, the ones holding trillions in bonds, start selling because they see something worse coming. That's where we are right now. Let's talk about what Goldman Sachs actually did and why it matters so much. In their third quarter 2025 filing, Goldman Sachs disclosed that their United States government securities holdings had decreased by 42% compared to the prior year. 42%. This is not a trim. This is not a tactical adjustment. This is a liquidation. We're talking about a reduction from approximately $280 billion in treasury and agency securities down to roughly $160 billion. That's $120 billion in bonds sold in a matter of months. And that's just Goldman. JPMorgan Chase reduced their available-for-sale securities portfolio, which includes treasuries, by 15% in the third quarter of 2024 alone. Bank of America sold off $37 billion in securities in the second half of 2024. Citigroup decreased their bond holdings by $23 billion. Wells Fargo, Morgan Stanley, all of them selling. When you add it up across the major banks, we're looking at well over $300 billion in treasury sales from the largest institutions in the past year and a half. And that's just the big banks. Regional banks sold another $290 billion. The total exceeds $800 billion. Now the banks will tell you this is about regulatory requirements. They'll say they need to maintain capital ratios under Basel III rules. They'll say they're optimizing their balance sheets. And on the surface, those explanations sound reasonable. But here's what they're not telling you. Banks are selling these bonds at a loss. They're taking the hit now. They're recognizing losses that they could have avoided by simply holding the bonds to maturity. Why would they voluntarily take billions in losses unless they believed something much worse is coming? Let me show you the deeper pattern. Goldman Sachs isn't just selling bonds. They're repositioning their entire institutional strategy. In their fourth quarter 2025 earnings call, the chief financial officer mentioned multiple times that they were focused on liquidity and flexibility. Those are code words. When a bank talks about prioritizing liquidity in a supposedly stable economy, they're preparing for instability. Look at what else Goldman has done in the past 18 months. They increased their cash reserves by 38%. They reduced their exposure to commercial real estate by 29%. They cut back on leveraged lending. They tightened credit standards for corporate clients. Every single move points in the same direction. Defense. This is not how banks behave in a healthy economy. In a healthy economy, banks lend aggressively. They maximize leverage. They chase returns. They buy bonds because the interest income is predictable and safe. Goldman Sachs is doing the opposite. They're hoarding cash, cutting risk, and selling what's supposed to be the safest asset in the world. And they're not stupid. Goldman Sachs has survived every financial crisis in modern history. The dot-com crash, the mortgage crisis, the European debt crisis, COVID. They didn't survive by being lucky. They survived by seeing problems before everyone else and positioning accordingly. When Goldman Sachs sells $847 billion in government bonds, they're not guessing. They're reading data you don't have access to. They're running models you can't see. And those models are screaming that United States treasury bonds, the bedrock of global finance, are a bad bet right now. To understand why this matters, we need to talk about interest rates and the trap the United States government is in right now. As of January 2026, the Federal Reserve's benchmark interest rate sits at 4.25 to 4.50%. That's down slightly from the peak of 5.33%. In July 2023, but still dramatically higher than the near zero rates we had during COVID and the decade before that. Here's the problem. The United States government currently has $36.2 trillion in debt. $36.2 trillion. That debt is not free. The government has to pay interest on it. And when interest rates go up, the cost of that debt explodes. In fiscal year 2023, the United States paid $659 billion just in interest payments on the national debt. That was with rates averaging around 3% on the overall debt stock. In fiscal year 2024, interest payments jumped to $879 billion. That's a 33% increase in one year. Now we're in 2026, and the latest projections from the Congressional Budget Office estimate that interest payments for this fiscal year will exceed $1.1 trillion. $1 trillion. Not going to schools. Not going to infrastructure. Not going to defense. Just interest. Just the cost of servicing previous debt. To put that in perspective, $1 trillion in annual interest is more than the United States spends on Medicaid. It's more than the entire defense budget minus war funding. It's approaching the size of social security payments. The United States government is spending more on interest than on almost any actual government program. And here's where the trap closes. That $1 trillion in interest has to be paid. The government doesn't have $1 trillion in surplus revenue. So how do they pay it? They borrow more money. They issue more bonds, which increases the total debt, which means next year the interest payment is even higher, which means they have to borrow even more. This is called a debt spiral. And the only ways to escape it are to either drastically cut spending, which is politically impossible, or to raise taxes, which is economically destructive, or to grow the economy so fast that revenue increases faster than debt, which isn't happening, or to print money, which causes inflation, or to default. Those are the options. And none of them are good. Now let's add another layer. A huge chunk of United States debt, roughly $7.6 trillion, is owned by foreign countries. The biggest holders are Japan with $1.08 trillion and China with $760 billion. These countries buy United States bonds because they need a safe place to park their trade surplus dollars. But something changed in 2022. Foreign buyers started selling. China has reduced its treasury holdings from over $1 trillion in 2013 to $760 billion today. That's a 24% reduction. Japan reduced holdings by $63 billion in 2024 alone. When foreign central banks sell United States bonds, someone else has to buy them. And, increasingly, the buyer is the United States government itself. The Federal Reserve, the Treasury Department, and domestic institutions are absorbing debt that foreign buyers don't want. This creates a doom loop. The government borrows money. Foreign buyers don't want it. Domestic buyers, like banks, are selling it. So the Federal Reserve has to step in and buy it with newly created money. That increases the money supply. That causes inflation. That forces the Federal Reserve to raise interest rates to fight inflation. Higher rates make the debt more expensive, which requires more borrowing, which requires more money creation, which causes more inflation. You see the trap. It's mathematical. It's unavoidable. And Goldman Sachs sees it. Now let me show you why this pattern is so dangerous by taking you back to a moment in history that rhymes with today. It's 1979. The United States is in trouble. Inflation is running at 13% annually. Gasoline lines stretch for blocks. The economy is stagnant. Unemployment is rising. Confidence in the dollar is collapsing. Foreign governments are demanding gold instead of dollars. The president, Jimmy Carter, goes on national television and talks about a crisis of confidence, a malaise. And into this crisis steps Paul Volcker. He becomes chairman of the And he makes a decision that changes everything. He decides to break inflation no matter the cost. He raises interest rates to 20%. Now, raising rates to 20% does stop inflation, but it also triggers the worst recession since the Great Depression. Unemployment hits 10.8%. Thousands of businesses fail. The savings and loan industry collapses. Farmers lose their land. The pain is But here's the key detail. In 1979, when Volcker started raising rates, the United States national debt was $845 billion total for the entire country, and the debt-to-GDP ratio was around 32%. Today, the national debt is $36.2 trillion. The debt-to-GDP ratio is 124%. The debt is 43 times larger in absolute terms and 4 times larger relative to the size of the economy. I keep this channel focused and distraction-free. Membership is for viewers who want deeper analysis, clearer thinking, and less speculation. Do you understand what that means? Paul Volcker could raise rates to 20% because the debt was manageable. The interest payments, even at 20%, wouldn't bankrupt the government. Today, if the Federal Reserve tried to raise rates to 20% to fight inflation, the interest on $36 trillion would be $7 trillion per year. That's more than the entire federal budget. The government could not survive. They would have to default or print money so aggressively that the dollar would collapse. The Volcker option doesn't exist anymore. The debt is too large. So the Federal Reserve is stuck. If inflation rises again, they can't raise rates high enough to stop it without destroying the government's ability to pay its debts. If they keep rates low to protect the government, inflation spirals out of control and destroys the currency anyway. This is the trap Goldman Sachs sees. This is why they're selling bonds. Because in a debt trap, bonds are the worst place to be. If the government prints money to avoid default, inflation destroys the value of bonds. If the government tries to raise rates to fight inflation, the economy collapses and the government defaults on bonds. Either way, bondholders lose. Let me give you another historical example. Japan in the 1990s. Japan entered a debt spiral with a debt to GDP ratio around 60%. They tried to manage it with low interest rates and money printing. 30 years later, Japan's debt to GDP ratio is 264%. They never escaped. The trap just got deeper. And here's the terrifying part. The United States is following the exact same path. Debt rising faster than GDP. Interest rates kept artificially low to avoid a debt crisis. Deficits every single year. And now institutions that understand this pattern are exiting. Now let me walk you through what happens when this system breaks. Because it's not a matter of if. It's a matter of when. And the when might be much sooner than anyone in the mainstream wants to admit. Stage one is what we're in right now. Banks are selling. Foreign governments are reducing holdings. But the system is still functioning. The government can still borrow. Interest payments are high but manageable. The economy is slowing but not collapsing. The stage can last months or even a few years. But it's unstable. Stage two begins when something breaks the confidence. It could be a bank failure larger than Silicon Valley Bank. It could be a country defaulting on its debt. Maybe a European nation or an emerging market. It could be a geopolitical event. A war that disrupts trade. It could be an inflation spike that forces the Federal Reserve to raise rates sharply. The specific trigger doesn't matter. What matters is that confidence cracks. And when confidence cracks in the bond market, things move fast. Let me show you what fast means. In March 2023, Silicon Valley Bank went from solvent to bankrupt in 48 hours. 48 hours. On Wednesday morning, they were a functioning bank. By Friday afternoon, they were gone. Depositors tried to withdraw $142 billion in a single day. The bank couldn't meet the demand. It failed. Now imagine that happening to the treasury market. Imagine a scenario where bond prices start falling. Maybe because inflation data comes in hot. Maybe because a foreign country dumps $100 billion in treasuries to defend their currency. Whatever the reason, bond prices fall. When bond prices fall, the financial institutions holding those bonds take losses. Those losses reduce their capital. Regulators force them to sell assets to maintain capital ratios. They sell more bonds. Prices fall further. A feedback loop. At the same time, as bond prices fall, yields rise. Remember, prices and yields move opposite. So now the United States government is trying to borrow money at higher and higher interest rates. The cost of servicing the debt explodes. The deficit gets worse. They have to issue even more bonds to cover the interest. But the market doesn't want them. Yields spike higher. This is stage three. The cascade. Bond prices in free fall. Yields spiking. Banks forced to sell. Foreign buyers pulling back. The Federal Reserve trying to intervene by buying bonds with printed money. But the more they print, the more inflation rises. And rising inflation makes bondholders demand even higher yields to compensate. The spiral accelerates. And then comes stage four. The government faces a choice. They can default, refuse to pay bondholders, which would collapse the global financial system because treasuries are the collateral for trillions in other transactions. Or they can print unlimited money to pay bondholders, which causes hyperinflation and destroys the currency. There's no good option. Both paths lead to catastrophic wealth destruction for anyone holding dollar-denominated assets. And that includes you, your savings account, your retirement fund, your paycheck, all denominated in dollars, all vulnerable. Now, I know what you're thinking. This sounds extreme. This sounds like doomsday fantasy. But let me ask you, does it sound more extreme than Silicon Valley Bank failing in two days? Does it sound more extreme than the Federal Reserve printing $9 trillion in response to COVID? Does it sound more extreme than the United States government paying $1 trillion a year just in interest? Everything I just described has happened before. Multiple times. In different countries. With different currencies. The pattern is always the same. Excessive debt. Rising interest costs. Loss of confidence. Cascade. Collapse. The only variable is timing. And Goldman Sachs, by selling $847 billion in bonds, is telling you they think the timing is now. Let's bring this down from macro theory to your actual life. Because when the bond market breaks, it doesn't just affect banks and governments. It affects you directly. First, mortgage rates. Mortgage rates are tied to treasury yields. When treasury yields rise, mortgage rates rise. Right now, the average 30-year fixed mortgage rate is around 6.8%. That's already high by historical standards. But if treasury yields spike in a crisis, mortgage rates could hit 9, 10, 12%. At 12%, the monthly payment on a $300,000 mortgage is $3,086. At current rates of 6.8%, it's $1,960. That's an $1,100 per month increase. Most people can't afford that. Home sales would collapse. Prices would fall. Homeowners who bought at the peak would be underwater, owing more than the house is worth. Second, your retirement accounts. If you have a 401k or an IRA, there's a very good chance a significant portion is in bond funds. Bonds are supposed to be the safe part of your portfolio. But when bond prices fall, those funds lose value. In 2022, when the Federal Reserve started raising rates, the Bloomberg Aggregate Bond Index fell 13.01%. That was the worst year for bonds in decades. And rates only went from 0 to 5%. Imagine what happens if rates go from 5% to 10%. Bond funds could lose 30, 40, 50% of their value. Your safe money? Gone. Third, your job. When interest rates spike, businesses that rely on borrowing get crushed. Commercial real estate, which is already in crisis with empty office buildings, would collapse completely. Construction would stop. Manufacturing, which depends on equipment loans, would contract. Retail, running on thin margins and credit lines, would see mass closures. Unemployment would spike, not gradually, fast. In the 2008 financial crisis, unemployment went from 4.7% in November 2007 to 10% by October 2009. And that crisis started in housing. A treasury crisis would be bigger. Fourth, inflation. If the government chooses to print money rather than default, you get inflation. And not the 3% inflation we complain about now. Real inflation. 10, 20, 30% or more. Your paycheck stays the same, but groceries cost twice as much. Gas costs twice as much. Rent doubles. You effectively become poorer overnight without losing your job. This is not hypothetical. This happened in the United States in the 1970s. It happened in Argentina multiple times. It happened in Turkey in the past decade. It's happening in Venezuela right now. When governments print money to pay debts, the people holding that currency pay the price. And fifth, your ability to prepare disappears. Right now, you can still move money. You can still buy assets. You can still take action. But in a crisis, capital controls get implemented. Banks limit withdrawals. International transfers get blocked. Asset prices become disconnected from fundamentals because nobody can transact freely. By the time the crisis is obvious to everyone, it's too late to act. The doors are already closing. This is why Goldman Sachs is selling now, in January 2026, when the mainstream narrative says everything is fine. Because they know that when everyone else sees the problem, the exit will be jammed. So why is this happening now? What changed in 2025 and early 2026 that triggered this massive bond exodus? Several things came together at once. First, the Federal Reserve's balance sheet reduction. During COVID, the Fed bought over $4 trillion in Treasury bonds to support the economy. They ballooned their balance sheet from $4 trillion to $9 trillion. Then, starting in mid-2022, they began quantitative tightening, letting bonds roll off without replacement. As of January 2026, the Fed's balance sheet is down to $7.1 trillion. They've reduced by $1.9 trillion. That's $1.9 trillion in bonds that the private market had to absorb. The private market, as we've seen, doesn't want them. Banks are selling, not buying. Second, the deficit exploded again. After a brief period where the deficit shrank to around $1 trillion, it's back up to $2 trillion for fiscal year 2025. The government is borrowing $2 trillion in a single year. That's $2 trillion in new bonds that need buyers. And the buyers are disappearing. Third, geopolitical instability. Wars in Ukraine and Gaza have created uncertainty. China and the United States are in an economic cold war with tariffs and sanctions. Trade is fragmenting. Countries are looking for alternatives to the dollar system. The BRICS nations are developing payment systems that bypass United States banks. The dollar's dominance, which is the only reason anyone wants treasury bonds in the first place, is being challenged. Fourth, inflation persistence. The Federal Reserve claimed inflation was transitory in 2021. They were wrong. They claimed they could bring it back to 2% without a recession. That hasn't happened. Core inflation is still running above 3%. The market is losing confidence in the Fed's ability to control prices without breaking something. And fifth, commercial real estate. This is the hidden crisis. Office buildings in major cities are empty. Work from home is permanent. Property values have fallen 30% to 50% in some markets. There are $7.6 trillion in commercial real estate loans outstanding. A huge percentage are coming due in 2026 and 2027. When these loans mature, they can't be refinanced at anything close to the original terms because the properties are worth less and rates are higher. That means defaults. Massive defaults. And when those defaults hit bank balance sheets, we get another Silicon Valley bank scenario, but bigger. Much bigger. Goldman Sachs sees this coming. That's why they reduced their commercial real estate exposure by 29%. They're getting out before the avalanche. Now, let me play devil's advocate for a moment. Because I want you to hear the other side of this argument. The side the mainstream financial media and government officials will give you. They'll say that banks selling bonds is normal portfolio management. They'll say Goldman Sachs is just optimizing their balance sheet for regulatory requirements. They'll point out that treasury yields, while higher than during COVID, are still historically reasonable. The 10-year yield, around 4.5%, is not extreme. In the 1990s, it was over 6%. In the 80s, it was over 10%. They'll say the United States economy is the strongest in the world. Unemployment is relatively low. GDP growth is positive. Corporate earnings are solid. There's no immediate crisis. They'll remind you that people have been predicting dollar collapse for decades, and it hasn't happened. The debt has been growing since World War II. The deficit has been large for 50 years. We survived the 1970s inflation. We survived the 2008 crisis. We survived COVID. The system is resilient. And they'll point to the dollar's unique position. The United States dollar is the global reserve currency. International trade is conducted in dollars. Oil is priced in dollars. Central banks hold dollars as reserves. Even if the United States has problems, there's no alternative. The euro has its own debt crisis. The yuan isn't freely convertible. Gold can't serve as a transaction currency at scale. The dollar wins by default. These are real arguments. And they have merit. The dollar's reserve status does give the United States extraordinary privilege. The ability to borrow in your own currency is a massive advantage. And the system has survived predictions of doom many times before. But here's what that argument misses. Systems don't fail gradually. They fail suddenly. Silicon Valley Bank was fine until it wasn't. Lehman Brothers was fine until it wasn't. The housing market was fine until it wasn't. Confidence is binary. It exists or it doesn't. And when it disappears, it disappears fast. The fact that the system survived previous crises doesn't mean it will survive the next one. In fact, each crisis makes the system more fragile because the response to each crisis is more debt, more leverage, more money printing. The fire extinguisher is getting smaller while the fire is getting bigger. Goldman Sachs is not selling $847 billion in bonds because they're worried about normal business cycle risk. They're selling because they see systemic risk. And their track record of navigating crises suggests we should pay attention. So what do you do with this information? Because understanding the problem is only valuable if it leads to action. And there are specific concrete steps you can take right now to protect yourself. First, reduce your exposure to long-term bonds. If you own bond funds in your retirement account, especially long-duration funds, consider shifting to shorter-term bonds or money market funds. Yes, you'll earn less interest, but you'll avoid the catastrophic loss that comes when long-term bond prices collapse. Second, build cash reserves. I know cash loses value to inflation, but cash gives you optionality. When assets go on sale in a crisis, having cash means you can buy. Three to six months of expenses in a high-yield savings account, not invested, liquid. Third, consider hard assets. Real estate in areas with strong fundamentals, not speculative markets. Productive land. Commodities. Things with intrinsic value that don't depend on government promises. Gold and silver have served as stores of value for thousands of years across every civilization. They don't pay interest, but they don't default either. Fourth, reduce debt. If you have variable rate debt, lock in fixed rates now while you still can. If you have high interest debt, pay it down. In a crisis, access to credit disappears. The people who survive are the ones who don't need to borrow. Fifth, diversify income. If your income depends entirely on one employer in one industry in one country, you're exposed. Develop skills that have value in multiple contexts. Build side income streams. Create redundancy. Sixth, stay informed, but don't panic. The timeline for this crisis could be months or years. Acting rashly based on fear is as dangerous as ignoring the warning signs. Make deliberate, calculated moves. And seventh, understand that the goal is not to get rich from the crisis. The goal is to survive it with your wealth intact, so you can take advantage of opportunities on the other side. Wealth is not destroyed in crises. It's transferred from those who didn't see it coming to those who did. Let me bring this full circle. Goldman Sachs sold $847 billion in United States treasury bonds. Not because they ran out of storage space. Not because they needed pocket change. But because their analysis, their models, their decades of experience told them that holding those bonds is a losing bet. They see a government trapped by debt. They see interest costs spiraling. They see foreign buyers backing away. They see inflation that won't go back to 2% without breaking the economy. They see commercial real estate on the edge of collapse. They see a Federal Reserve that can't raise rates without causing a crisis and can't lower rates without causing inflation. They see a system that has exhausted its options. A system that has kicked the can down the road for so long that there's no road left. A system where the only choice is between different types of catastrophe. And so they sold, quietly, systematically. While the financial media talked about soft landings and resilient consumers and the strength of the American economy, this is not a conspiracy theory. This is documented fact. The SEC filings are public. The numbers are real. $847 billion in bonds sold by institutions that have survived every crisis in modern history by seeing problems early and positioning accordingly. You can dismiss this as fear-mongering. You can trust that the government and the Federal Reserve have everything under control. You can believe that this time is different, that the rules have changed, that debt doesn't matter anymore. Or you can look at what the smartest money in the world is doing and ask yourself a simple question. Do they know something I don't? The answer is yes. They absolutely do. They have access to data you'll never see. They have relationships with policymakers you'll never meet. They have models running scenarios you can't imagine. And those models are screaming one thing. Get out of bonds. Now, history will show whether they were right. But by the time history makes that judgment, the opportunity to act will be gone. The exits will be jammed. The losses will be locked in. Goldman Sachs made their move in 2025. They're positioned for what comes next. The question is, are you? If this information has been valuable, if you want to stay ahead of the curve, if you want to understand what's happening in the financial system before it becomes obvious to everyone else, subscribe to this channel right now. Hit the notification bell. Because the story we just covered is not the end. It's the beginning. The collapse Goldman Sachs is preparing for hasn't happened yet. But the preparation phase is the most important phase. The actions you take in the next few months will determine whether you survive what's coming or become another casualty. The $847 billion warning shot has been fired. The smart money has moved. The only question left is whether you'll move too or whether you'll wait until it's too late. Thanks for watching. I'll see you in the next one.