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Cake day: July 6th, 2023

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  • That would actually be massive escalation in more than the obvious ways. Gulf states are the ones buying up most US debt (which is piling up extremely quickly). This is a large part of their leverage to secure continues US military protection. Should the US Navy be used to block the straight to enforce some kind of all-or-nothing approach, it’s going to be cause a lot of knock on effects in the bond market. We do be living in interesting times!