US Dollar TINA, What Happens When Financial Stress Hits Lack of Alternatives?
US intervention shows all isn't well with the US dollar.
Source: Mish Talk
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DW NOTE
The dollar's reserve status rests on one structural fact: every alternative is worse. The Fed can run 3.5% policy rates against 3.53% headline CPI while Treasury yields 4.63% — real returns barely positive or negative depending on the measure — because yen, euro, and renminbi offer no credible substitute for depth or rule of law. "Intervention" is a meaningless term without specifics: if Treasury sold yen to buy dollars, that's standard smoothing operations, not crisis management.