The Easy Button

The author argues that the global elites' default policy is the "easy button" of delaying hard choices, and uses Japan and China to illustrate this. Russell Napier's May 12 Solid Ground newsletter is cited as describing a Fed-Treasury dollar-yen swap option that would let the Bank of Japan avoid raising rates by having the Ministry of Finance sell US Treasuries to buy yen. The author contends that a weakening yen pressures China's exports, which could push China to devalue the yuan, and that Biden would be unlikely to allow such a devaluation before the election. The article also outlines a hypothetical Chinese gold-backed threat, with China holding an estimated 31,000 tonnes of gold worth roughly $2.34 trillion.