SpacemanSpiff

https://fountain.fm/episode/GwK9QqfxB9qVYntPUxIo nostr:nevent1qvzqqqpxquqzpsuct6kwvk2nglr8yvurhzpt7qmypsxe0us06hnv7fajt962t803g2dav8

Lol. I had an acquaintance who bought some beachfront property and then loudly told everyone who would listen that global warming and rising seas were a crisis that "we" had to fix. Enjoy you home in the Baltics. The tribute payment is 30 years late though. https://fountain.fm/episode/2NhxWms0KqZye9TKKtB7

https://xcancel.com/parkeralewis/status/1910312274696310870#m Classic conflation of "reserve currency" & "reserve asset." The problem is that the reserve asset (US federal govt debt) is an interest-bearing instrument. Once you accept that, Triffen's dilemma is unavoidable because future liabilities are not balanced by current assets.

This shines new light on the Sept rate raise. If they went with 0 or 25 bip, they could have reversed course and raised rates to spike a Trump win with a quick recession. But with the 50 bip cut it's much harder to reverse course, both politically and financially. This puts the recent special auction to roll long bonds to bills and notes into a new perspective. J Pow prevented them from causing an asset selloff when Trump came in, so their only play was to roll to duration to try and spike inflation and pin it on Trump. Which is, pretty. Fucking. Weak.