The article couldn't be less true. Treasuries are the deepest and most liquid market by far. Foreign CBs hold them so that they can liquidate them when it becomes hard to find dollars. Why else do foreign CBs want to constantly open up swap lines to us when they are hurting?

Rods from God https://en.wikipedia.org/wiki/Kinetic_bombardment

I thoroughly enjoyed Veritasium's video on this.

https://www.youtube.com/watch?v=J_n1FZaKzF8

There was never a petro-anything. It's always been and is the Eurodollar global reserve currency. https://en.wikipedia.org/wiki/Eurodollar

Exactly. It's always been posturing.

Same thing happened with hidden Antarctica bases in 2018.

The Fed and largely US policy has absolutely no effect on the real reserve currency: https://en.wikipedia.org/wiki/Eurodollar

Didn't know that was a real term Mike Pondsmith used for cyberpunk

It is, but he got the macroeconomics backwards so enjoying it on an aesthetic level rather than a mechanical level is still the right choice.

Few people actually know how Eurodollar system works under the hood.

My hotter take: We've been in a depression since '08 https://fred.stlouisfed.org/graph/?g=cMV

What if some of the population is experiencing a depression, some are in a recession, some are in stagnation, and some are experiencing an expansion?

I don’t know about the US but growth in the UK has been anaemic since the financial crisis.

>excluding current transfer receipts

Why was this metric chosen? What does showing that current transfer receipts grew show we're "in a depression"?

Slightly related, I've been wanting to invest in SK Hynix since early '23. Does anyone know how a US investor can get access to the stock? I haven't found any brokers that allow you to trade Korea Exchange tickers.

Interactive Brokers lets you trade HY9H and HXSCL which are secondary listings of SK Hynix on German and US exchanges respectively.

You get "division".

There never was rampant inflation (in the sense of the term of expanding money supply). It was all driven by the increased prices supply shock driven "inflation". The solution to high prices ("inflation") is high prices, not increased interest rates.

Inflation isn’t high prices, it’s rising prices. You don’t know what inflation is it appears so I can scarcely take your proposed solutions seriously.