@nickgiva1 it is not insurance alone. The ships get paid for even when they are stranded. The major risk is if a ship is damaged in a kinetic event, then it's a equipment loss during the most profitable time for shipping.
@WeTheBrandon@DavidBeckworth De-dollarization doesn’t need a press conference. It is already moving faster than dollar exceptionalists acknowledge, and slower than de-dollarization advocates claim. That’s precisely the range where it gets ignored — until it isn’t.
@WeTheBrandon@DavidBeckworth Which means the dollar’s reserve dominance and US equity market depth are mutually reinforcing — but what they’re reinforcing is increasingly habit and incumbency, not underlying structural necessity. These companies could raise capital elsewhere on pure business merit.
@LynAldenContact Different definitions: Japan counts both government and private company-held reserves, while OECD Europe’s figure likely excludes industry-held and delegated stocks spread across member states.
@JackFarley96@LynAldenContact There’s still a cohort selling USD on the view that a $300bn TGA drawdown forces selling. It doesn’t. But price reflects all flows, including those driven by misplaced or illogical narratives.