What is happening to the US dollar? Why has the Federal Reserve set up a ‘pawnshop’ on its estate? Why do Japan’s low rates of interest threaten the US? Why are Europeans angered by US Treasury Secretary Bessant’s not-so-stealthy hedge-fund-style moves? And what has that all got to do with the AI bubble and Silicon Valley’s vast mountains of debt?
Above all, what has that to do with you or me? Those are the themes of this post.
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