The fuse is already burning.
This isn’t empire. This is captivity masquerading as privilege. For decades, the dollar system was sold as sovereign strength. But behind the curtain, it was scaffolding, a fragile architecture supporting global imbalances that no one dared to fix.
China floods us with goods. We print the debt. They hoard the collateral. This isn’t trade. It’s a hostage exchange. America supplies the deficits; the world returns them as liabilities. The Fed isn’t king. The Fed is janitor.
QE wasn’t stimulus. QE was retaliation. It crushed real rates, drained foreign rentiers, and exposed the parasitic model for what it was: tribute disguised as liquidity. The pegs were never anchors, they were fuses waiting for ignition. A conduit for sovereign retaliation. External price fixed. Target domestic prices instead. A massive property bubble. Chinese Metropolises flaring incandescently in the night sky.
China’s yuan weakens not to grow, but to survive. Devaluation at the bottom isn’t stimulus. It’s deflationary warfare. Japan faces its own reckoning. The yen’s collapse is no longer unthinkable. The credibility of their collateral is evaporating. The capital flow reverses. The bid on Treasuries vanishes.
And so the Fed faces its final choice: defend equities or defend the sovereign bond. There will be no third option. Duration is destiny. The safe asset becomes the kill switch.
This is no longer a functioning market. It’s a monetary knife fight. AI roars forward. Capital misallocates. Asset bubbles swell as wages stagnate. Consumption shrinks. Inflation morphs into impoverishment.
We stand at the ledge: one step from euphoria, one step from collapse. A new 1990s or a new 1930s. The myths are dead. The structures brittle. The old rules obsolete.
Exorbitant privilege? That era has closed. The dollar remains but not as a throne. As a contract. As a negotiation. As the final line holding the system together.
The park opens in five minutes.
The Acid Capitalist
🖤⚔️💣
🎙 From Beast to Burden: The Strongman's Slumber
⏳ Chapter 1: Setting the Stage — The Sequel Drops
00:00:00
Me and my St. Barts perch. Part two of The Spice Ledger begins. The beast returns.
⏳ Chapter 2: The Dollar: Pirate, Privilege, or Prisoner?
00:02:15
The dollar as benevolent pirate. Exorbitant privilege reframed as obligation.
⏳ Chapter 3: The Reckoning: Atlas Shrugged
00:10:40
Trump reframes reserve status. America as Atlas carrying global surplus parasites.
⏳ Chapter 4: The AI Industrial Race: Steel, Silicon & Sovereignty
00:12:30
Labour arbitrage dies. Silent AI factories rise. The battle for industrial sovereignty begins.
⏳ Chapter 5: The Dollar as Public Good: The Monetary Park
00:16:13
The dollar as global commons. America as janitor of the monetary park. The true cost of reserve status.
⏳ Chapter 6: The Mercantilist Manipulation
00:20:07
China and Germany manipulate surpluses. America’s deficits fuel foreign ambition.
⏳ Chapter 7: The Strongman’s Slumber: Shackled By Design?
00:23:00
America’s self-shackling. Credit sanctuary turns to exploitation by design.
⏳ Chapter 8: QE2: Retaliation, Not Rescue
00:39:14
QE2 as sovereign counterstrike. Bernanke’s real purpose: sovereign repudiation.
⏳ Chapter 9: The Mercantilist Carry Trade: Blade Runner China
00:53:00
China leverages QE2 liquidity. Blade Runner property bubbles explode on dollar carry trades.
⏳ Chapter 10: The Global System Breaks: The Sovereign Imbalance
00:56:00
The strongman wakes. Foreign demands collapse under their own weight. The park remains but no longer free.
🎙 Outro: The Acid Capitalist Signs Off
00:56:40
Me? I’m out of here. The system trembles. Part three looms. The acid anthem plays.
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