The dollar is losing its safe-haven status as major countries sell off US bonds, bad news for the US and anyone holding long-term treasuries.

• The dollar stays weak even during the Iran conflict, a sign the world is losing faith in it.
• Japan is dumping US bonds and dollars to prop up its currency, which has crashed to a 40-year low and is making everything more expensive at home.
• If the Fed hikes rates to fight inflation, bond values crash — so countries are racing to sell before that happens.
• China has cut its US bond holdings to record lows and is buying huge amounts of gold instead, aiming to move global wealth away from the dollar.
• Gold can't be frozen or seized by Washington, which is why Beijing trusts it over US assets.

Outlook: Expect more countries to keep selling US bonds and stacking gold, piling more pressure on the dollar.