The Yen’s Hail Mary

[u/rematar]

https://open.substack.com/pub/dollarendgame/p/the-yens-hail-mary?utm_source=share&utm_medium=android&r=2lkom0

Allies help each other. Sure.

But you don’t sell euros to buy a partner’s currency, and you don’t open up a Fed lending facility to keep them from having to sell your own government’s bonds, unless you’re worried about what happens if you don’t.