Still The (Military) Base Case

Japan Sold Almost $90 Billion In Treasuries To Fund Record Yen Intervention At the end of July, the only question following Japan's record $90 billion yen intervention (which worked for about two weeks before the effects faded and Bessent had to engage in more market intervention), was whether and how much Treasuries Japan had sold as part of the intervention.  The BOJ spent a record $90BN to briefly push the yen higher. Another catastrophic intervention by the central bank which is 100bps behind in rate hikes (chart Goldman) pic.twitter.com/xOGszXSgF7 — zerohedge (@zerohedge) July...

The war could not have been financed under the old gold standard.

World Bank Warns Asia Is Running Out Of Money To Fight Energy Shock Authored by Irina Slav via OilPrice.com, Asian countries have responded more aggressively than others to the energy supply crunch caused by the U.S. and Israeli war on Iran and now they are running out of resources to continue their response, the World Bank warned in a new report. The report actually focuses on the potential of artificial intelligence to help Asian economies grow but names energy import vulnerability as one major headwind to that growth. "Subsidies have been by far...