
Episode #22
The Yen Battlefront: Europe's Weak Hand and the Dollar Stablecoin Hierarchy
<p>TL;DR: Europe’s energy shock is becoming sovereign-debt stress, offshore dollar liquidity is signaling disinflation, and Japan is the next battleground in the stablecoin vs. eurodollar transition.</p><p></p><p>📄 Summary</p><p>Europe Admits The Energy Shock</p><p>Cameron Otsuka frames the episode around Europe’s energy/debt stress, the offshore dollar system, and Japan’s role in stablecoins (00:00:04). Matt Dines says Europe is “admitting it’s lost this phase of the Iran fight” through energy and commodity supply chains (00:01:31).</p><p> * EU officials expect oil/gas prices to stay elevated through 2027, while Christine Lagarde “double stamped” t...






