Why Japan’s Currency Crisis Could Signal a Global Debt Reckoning
—→July Flash Sale:🔓 Unlock the full story. > For a limited time, you can tear down the paywall for 40% off —Just $6/month. . Get unfiltered, deep-dive political analysis from the sharpest strategists in the game when you upgrade now for just 16 cents per day! Why Japan’s Currency Crisis Could Signal a Global Debt Reckoning Japan’s currency and debt stress could raise U.S. mortgage rates and force investors to sell assets across global markets, potentially setting off a wider financial crisis. The Intellectualist Aug 10 ∙ Preview ∙ Guest post Brian Daitzman is the Editor of The Intellectualist Subscribe to his Substack Japan’s currency problem is not yet a sovereign-debt crisis. But on July 31, the United States joined Japan in buying yen, the first coordinated American-Japanese effort to support the currency in nearly 30 years. The Federal Reserve Bank of New York reportedly sold euros and bought yen on behalf of the Treasury after the currency had fallen to it...