with Neo Wicksell religiosity neutering the Fed and with Trump admin not knowing (or caring) what dual sided accounting based design and analysis of major economic policy - which also neuters the fiscal side response - the country is now in a perilous and exposed position.

let us hope Xi and others arent aware of this self imposed weakness that is making the US very very weak to US enemies. With the threat of selling all their BTC even a shit hole like El Salvador can being the US (temporarily) to its knees.

what if Xi sets out to not sell US Treasurys , but by raising a clamor and setting out to crash BTC, bringing it to levels below $10,000? bet you some HFT and bank goes down. there are no financial immediate defenses and remedies now as SEC, Fed, US Treasury sidelined.

the US has hit a trifecta of bizarre dangerous sudden policy change that have gutted (for a quarter or two?) all the emergency response ability. look back and am grateful to SBF to quarantine of FTX before they went down so it did not destroy swaths of the US finance. but now?