I don't believe what is being described here has any precedent in recent U.S. bond markets. He may have stated this but if he didn't what he is describing is the bond mkts are begging to freeze up. The investor is nolonger trying to put his foot in the bond market as he doesnt know if he would ever get his foot back. Money is leaving the bond mkts and as Shultz alluded to it is leaving the country. The wealthy do not limit them selves in national mkts. If a countries mkts are questionable they transfer to a safer investment area. And they always do that before assists are frozen.
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