Can someone explain the infinite liquidity magic going on between USD and JPY, and the basis trade on top of the carry trade.

There’s clearly an infinite money loop ponzi going on. The question is when does it stop. Tariffs was the excuse for gold rising but then it went away and the rally keeps going. Central banks can’t make the price of gold go down, that appears to be the only thing that can’t be rigged entirely. I always think about the used cars movie when listening to the TV sell stocks. Those stocks are used cars, the IPO market is a way to dump a lemon on the greater fool. Wall Street is selling optimism to keep the 401k Ponzi scheme going, if people were neutral then you wouldn’t say stocks will always go up, without fail.

PPT seems to exist, it seems to exist for a rogue central bank that creates infinite money, who’s the next Japan? Guessing Germany will provide unlimited liquidity next or Saudi Arabia or Argentina. China may be a temporary liquidity cow since there’s no money to finance a US-China war.

Keep stacking.