The US has rewritten the rules around the global trading and economic and financial systems many times. The latest effort is yielding some surprising results that I have not previously considered.
This is a thought piece on the next evolution of FX dynamics ahead.
It is a follow up to my piece The End Goal, which was written in the depth of the trade wars panic and described my thesis for the motivations behind this policy.
Concepts around foreign holdings of US assets and the implications can also be read in the following two pieces: