You have a dominant banker warning American and Global Financial System about the 'lack of Fed bonds'. The only way I understand such a warning is that the Federal Government not issuing more deb will in turn can cause some serious economic harm to American and Global Economy.
But meanwhile what are American politicians up to - essentially fostering such a calamity on America. The fetish of balanced budget and constitutional convention will lead to such a chaos unless more Americans understand that the Fed Budget is not same as like a family budget.
Danger with today's American Politics is, it will bring the chaos and maximum pain to larger population - American and Global - before it takes corrective actions. Seems like Churchill Maxim is what American Politicians want to prove - "You can always rely on America to do the right thing, once it has exhausted the alternatives." If it means colossal suffering to common Americans and most folks on this planet in between - that is just a collateral damage from the Conservative point of view.
Now, that is some audacity more adventurous than what we know.