The next contagion is beginning to spread around the globe. It is unexpected on Wall Street, misunderstood in Washington — and very dangerous. It could sabotage the plans of the U.S. Treasury, the Federal Reserve, and many of their counterparts overseas. It is … The Collapse of Sovereign Government Bonds This is certainly not the first financial contagion of recent memory: Back in 1997, we witnessed a currency contagion —hatched in Thailand, spreading quickly to the rest of Southeast Asia … smacking Russia…