The Mr. X Interviews
The Triffin Dilemma Unfolds
In the 1960’s, economist Robert Triffin noted that global reserve currencies have to run large persistent trade deficits, which has been coined the Triffin Dilemma. If the reserve country doesn’t supply the world with a lot of their currency, then the world simply can’t use that currency for international trade, commodity
... See moreLyn Alden • The Global Dollar Short Squeeze
The title for the chapter on Japan is “A Bug in Search of a Windshield.” While the currency of the Land of the Rising Sun is very strong as we write, there are real structural reasons, as well as political ones, that lead us to predict that the yen will begin to weaken. At first, it will be gradual. But without real reform in government expenditure
... See moreJonathan Tepper • Endgame: The End of the Debt SuperCycle and How It Changes Everything
the most striking feature of that system is how little it has changed in the space of a decade, despite the ‘great dying’ of so many banks, hedge funds and other entities, and the promulgation of thousands of pages of new financial regulation on both sides of the Atlantic. Banks are certainly better capitalized than they were ten years ago. In othe
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