[kabar]

Japan's foreign debt is largely domestically owned. Ours is somewhat different. Foreign held federal debt is a third of the total, so watch out for all that EM liquidation volume.

As EM's sell US bonds to amass dollars to defend their currencies, US bond yields will explode higher causing systemic risks in US markets as everything is priced off US treasuries. Something will break.

[DanZ]

Cayman Islands - Now this one is way too funny - All the world’s rich, the war lords, the Mafia, the Soros’ hiding their wealth in the Caymans. Not seeing Panama on this list