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George Gammon, identified as the host and investor at Rebel Capitalist, stated that the actual source of demand for U.S. dollars and treasuries is debt and derivatives, rather than oil. He referenced his previous whiteboard discussion on the topic and described the 'petrodollar' concept as irrelevant in this context.
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Gammon has previously discussed how U.S. treasury yields could behave under different debt and deficit conditions in a recent analysis. He also commented on the 10-year yield dropping more than 20 basis points from its intraday high, noting a possible Asia connection in a separate market note. Both observations add context to his ongoing focus on factors driving treasury and dollar demand.