“Coordinated intervention has worked almost every time.” @donnelly_brent says dollar-yen only gets a durable top if Japan gets real policy coordination, not another unilateral smash. Otherwise, the trade stays tactical: short into intervention, cover quickly, and wait for the real catalysts.

Coordinated Takedown of Scam Centers Leads to at Least 276 Arrests; Alleged Managers and Recruiters Charged in San Diego “Fraudsters who target Americans from overseas cannot operate with impunity, no matter where in the world they reside,” said Assistant Attorney General A. Tysen Duva. “The charges and arrests announced today reflect an international consensus that scam centers are unwelcome everywhere and must be rooted out. Scam center organizers and fraudsters who defraud Americans and others will face justice in American courts and in courts around the world. In contemporary society, fraud is borderless, and law enforcement activity to combat it and eliminate it is as well.” 🔗:

This was a coordinated, military-style assault on our country, ten boats launched simultaneously from the French coast. If you don’t call this an invasion, I don’t know what else you can call it! If defending our nation means going into the English Channel, if it means standing at the border of our own land to protect it, then that is exactly what we will do. #PatriotPlatform# 🏴󠁧󠁢󠁥󠁮󠁧󠁿🇬🇧

Without new instruments to coordinate the financing of the AI boom, America's AI progress will be slowed as concentrated financial risk skyrockets. America can beat China, but to do so, it needs to lean into its own institutional strengths.