Macro analyst Lyn Alden and Luke Gromen have recently discussed the direction of sovereign debt in a conversation, believing that the United States has entered a fiscal-dominance phase where traditional rate-hiking tools are largely ineffective. Gromen says real interest expense has reached about 105% of federal revenue, and he describes it as a Weimar-style gold-reparations dilemma. Both see Bitcoin and gold as long-term scarce assets. Gromen says he will significantly add back positions when the 10-year U.S. Treasury yield heads toward 7%.