How Arthur Hayes Thinks the Iran War Is Eroding Demand for US Treasuries

Description

Since the Asian financial crisis of the late 1990s, sovereign nations have parked their export surpluses in US treasuries and dollar assets as a form of insurance. The Iran war is breaking that logic. Arthur Hayes explains why: when Australia ran out of jet fuel and the prime minister had to fly to Singapore to beg for it, the lesson was stark. Dollars don't buy physical things when the strait is closed. Nations that built their reserves in dollar assets rather than infrastructure and commodity stockpiles are now questioning that trade. Hayes argues this creates a structural, secular decline in demand for US treasuries — and that the Fed will ultimately have to print to absorb it. That's the core of his bull case for Bitcoin and hard assets. This clip is from a longer conversation on war, AI, and the bull market thesis. Full episode here: https://youtube.com/live/gP81Xze6Gh4 We go live every Tuesday and Thursday — subscribe to catch it live. ________________________________________________________________________________________________ Coinbase: Get 20% off the first year of your Coinbase One annual plan at https://coinbase.com/unchained. ________________________________________________________________________________________________ Chapters: 🌏 0:00 The Asian financial crisis and the origins of petrodollar recycling 🛢️ 2:05 Australia's jet fuel crisis — what dollars don't buy 🏗️ 2:54 Why nations will build pipelines instead of buying treasuries 🖨️ 4:30 Why Hayes is certain the Fed prints to absorb the selling ________________________________________________________________________________________________ #bitcoin #ethereum #crypto #cryptocurrencies ________________________________________________________________________________________________ Subscribe to our channel! Website → https://unchainedcrypto.com Unchained Daily Newsletter (FREE!)→ https://unchainedcrypto.beehiiv.com/subscribe/ Unchained X → https://x.com/unchained_pod Apple → https://podcasts.apple.com/us/podcast/id1123922160?ls=1 Spotify → https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w RSS Feed → https://feeds.megaphone.fm/LSHML4761942757 Unchained: Your no-hype resource for all things crypto!