SpaceMuse

Mundane financial astrology. Macro and technical analysis. Liquidity mapping. CRYPTO.

Sentiment: 📉

[SpaceMuse @Space_Muse]

Black Wednesday 2.0 is coming.

RE: Yen. People now see there are major structural deficiencies and plumbing problems. Some analysts are calling for 200 USD/JPY, noting Japan's unsolvable structural problems. BUT JAPAN DOES NOT EXIST IN A VACUUM. This requires macro analysis.

Why is Scott Bessent so opposed to "JPY volatility"? Why is Bessent forcing Japan to use the Fed’s FIMA Repo Facility?

Because Japan is a primary pillar of US dollar hegemony. They are the largest foreign US Treasury holder. And since they are facing a currency crisis -- triggered by import-related inflation -- they must dump those US treasuries to support the Yen. And that is exactly why long-term US treasury yields have been surging.

This creates an obvious optics problem for the US government: surging treasury yields suggests declining confidence in the US government's ability to repay its debts. It suggests declining confidence in the USD. NOW WE HAVE ARRIVED AT THE CRUX OF THE PROBLEM.

So, there are two fundamental premises we must accept:

1. Yen collapse will not be permitted
2. US Treasury market collapse will not be permitted

There is only one nuclear option that addresses both problems: UNWINDING THE YEN CARRY TRADE.

Yen bears were screaming that intervention would have no effect at 164. Now we're at 158. They point to the BOJ's recent $35 billion intervention and say, "JPY is already back to 158 (from 155)! Intervention is futile!"

But they are missing the forest for the trees. A fundamental truth about markets -- they only care about liquidity. It is true that Japan lacks the funds to stabilize the Yen market through forex intervention alone.

This doesn't matter, because Japan will be using YEN-SHORT CARRY TRADER LIQUIDITY to do the intervention for them. Forex markets are unregulated, so the data is opaque. But the Yen carry trade is estimated to be $250 BILLION - $20 TRILLION in size. (So that $35 billion BOJ intervention is truly a drop in the bucket!)

^^ THAT IS THE LIQUIDITY JAPAN WILL BE USING TO COLLAPSE USD/JPY AND PERMANENTLY RE-PRICE ITS CURRENCY.

The BOJ only needs to dump enough dollars to BEGIN unwinding the carry traders. Once that happens, the forced liquidations will cause a feedback loop that does all the work for them. An avalanche of USD/JPY margin calls will cause forced liquidations across western financial markets -- that USD liquidity will then be used to buy back their Yen obligations. This will cause JPY to surge.

Now, aside from Japanese domestic markets and US Treasuries -- why does this matter? To answer that, we need to look at where Yen-short carry traders are investing the funds. Again, since the forex markets and shadow banking pipelines that carry traders use are highly unregulated, we can't point to any conclusive reports that tell us exactly where the money is going. But using CFTC positioning data, Treasury International Capital (TIC) reporting, BIS cross-border banking statistics, and in particular, asymmetric correlation tracking across global asset classes -- we can be fairly sure of two things:

1. Yen carry traders are net long US mega-cap tech equities, high-yield fixed income, emerging market sovereign debt, and digital assets (bitcoin).
2. If the yen carry trade unwinds, THESE MARKETS WILL DECLINE SEVERELY -- as part of a larger global asset bubble deflation crisis.

As opaque as the forex market is, we know that the global Yen-short trade is ~ the largest it has ever been.

Meanwhile, the Japanese domestic retail Yen-long trade is ~ the largest it has ever been.

Choose wisely which side you bet on, because the outcome has massive implications for global markets.

[Megatron @Megatron_ron]

BREAKING: 🇨🇳 China has suspended all oil exports except to Hong Kong and Macau.

PetroChina has cancelled most gasoline and jet shipments abroad.

[Q The Storm Rider @Q_TheStormRider]

This Changes Everything.

Dr. Naomi Wolf: “COVID VACCINES caused MASS HYPNOSIS. Two-thirds of the population no longer has the ability to reason, the shots DAMAGED the BRAIN.”

Two-thirds of humanity can’t think straight anymore.
They don’t react.
They don’t question.
They just… obey.

[Chay Bowes @BowesChay]

Well, that’s surely coincidental

[Robbert Leusink 🇳🇱 @robbertleusink]

My bees only made ~2.5 jars this year

Last year the same hives were 70-80% full

This isn't due to climate change
My bees aren't dying of heat

Farmers cut the clover while it's still in bloom

The city council mow the roadsides down to bare earth, on schedule, then plant a few weeds somewhere else and call it 'biodiversity'

The 'extinction' of bees is not climate change, but government policy

[DR JANE RUBY™️ @RealDrJaneRuby]

I’m living in a Terminator movie

God help us

[Deep Leaks @DeepLeaksHQ]

Jim Caviezel says that the day after he brought up adrenochrome he was dropped by his agency, his lawyers let him go and he was canceled in Epstein Island connected Hollywood.

"Adrenochrome is a chemical compound that's been around since the 1930s. There is a natural form.. which is caused by torturing kids..
I brought this up a few years ago and all of a sudden I was attacked by every media group. The next day I never heard from my agency for 14 months. My lawyers let me go. My agency never called me after that. I didn't realize the connection to my industry. To Epstein Island and all of that but obviously there is."

[Lillian@mcocph @LillianVikingDK]

Jonathan Newell is having his first name and photos scrubbed from the internet share it widely. Winston Lee fled to Korea has been found there. His korean name is LEE JUN HYUNG 이준형. Hold them accountable. Pictured: JONATHAN NEWELL who sent the “free p*ssy” message

[Linda Mamoun @mamoun_linda]

If “mass funerals” of Israelis kept happening, it would be called a genocide.

[illuminatibot @iluminatibot]

Their real goal is a completely depopulated planet with only an elite ruling class left. The rest of humanity will be brought down to subservient levels or simply not born at all...

You're being set up for compliance and control on many levels so the agenda can move forward.

[Karen, Esq @Kanarymine4]

This is the demon Finkelstein worships:

Rosa Luxemberg.

This is the reason Finkelstein was trotted out.

Plus he is good for perpetuating the hollycaust lies.

Everywhere he appears, make a point of telling the world what his sinister function is

[SGAnon @TheQNewsPatriot]

Remember this gem?

[LPC @landpalestine]

This is the guy who's trying to Dox the Cornell Jane Doe btw

What kind of person would want to do this?

Oh yeah, a rapist.

Yeah Michael Tracey

[jordan @JordanUhl]

This IDF?

[SpaceMuse @Space_Muse]

Indeed!

Talmud (Yevamot 98a): "The offspring of heathens, when they come to study the Torah, are considered as dogs."

This metaphor explicitly equates non-Jews ("Goyim") with animals.

These Jews are lying to our faces. Their lies exist in plain view.

This is the demiurge.

[Ethan Levins ✝️ @EthanLevins2]

90% of the actual list is bullshit claims with zero evidence.

Anytime somehow shows this to you, scroll down a little and ACTUALLY read their "proof".

HINT: There is none

[Zak @BoufontZak]

“Netanyahu says” 😂🤣😂

[SpaceMuse @Space_Muse]

@DanielMael Good one

Nobody trusts Jews at this point...

[SpaceMuse @Space_Muse]

@rustokratten @CammyDisco They are Khazar (Turkic), from modern day Ukraine/Georgia/Asian steppes

[Will Sexton @willsextonx]

The leaders of the new left are all third world elite. They pander about “colonialism” meanwhile they come from wealthy colonial era families with servants.

Go ahead and google why Zohran was exiled from Uganda

[Ryan @forbiddenmerch]

Hey @grok

Are the Rothschilds jewish and inbred?