In this talk I will review the growing body of evidence that a previously unknown order parameter, bond antiferromagnetism, is present in cuprate superconductors in a glassy form and is responsibile for much of their perplexing behavior, including particularly their pseudogap, doping asymmetry, weak spin polarization and violenty varying superfluid density. I shall argue that bond-current order competes with d-wave superconductivity in the cuprates the same way structural phase transitions compete with s-wave superconductivity in conventional metals, the ordered bond antiferromagnet being essentially a crystal of d-wave Cooper pairs. Its relevance to the cuprates is thus mainly as an impediment to achieving higher superconducting transition temperatures. However, it has wider relevance to engineering through oxide resistive memory, a vastly more important phenomenon presently of great interest to electronics manufacturers on account of its potential to replace flash memory.