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BREAKING: Iran’s Parliament Speaker just threatened every government in the world, sovereign fund, and institution on Earth that holds US Treasury bonds.
Mohammad Bagher Ghalibaf, the IRGC-aligned hardliner who is now the most visible wartime leader in Iran while Mojtaba Khamenei has not been seen for 24 days, posted on X: “Alongside military bases, those financial entities that finance the US military budget are legitimate targets. US treasury bonds are soaked in Iranians’ blood. Purchase them, and you purchase a strike on your HQ and assets. We monitor your portfolios. This is your final notice.”
Read that again. He did not threaten military bases. He threatened bond holders. He declared the financial infrastructure that funds the American war machine a legitimate military target. He claimed Iran is monitoring portfolios in real time. And he issued a “final notice” to every entity financing the Pentagon’s $200 billion supplemental request.
Japan holds $1.1 trillion in US Treasuries. China holds $770 billion. The United Kingdom holds $690 billion. Luxembourg, the Cayman Islands, Canada, Belgium, Ireland, Switzerland, and Taiwan are all in the top fifteen. Ghalibaf just told every one of them: your Treasury holdings make your headquarters a target.
This is not a bluff. It is not operational either. Iran cannot strike the Bank of Japan. Iran cannot hit the Cayman Islands. The threat is psywar, and the psywar is aimed at the one mechanism that matters: the next Treasury auction. If sovereign funds hesitate at the margin, yields rise. If yields rise, US borrowing costs increase. If borrowing costs increase, the $200 billion war supplemental becomes more expensive. The threat does not need to be executed. It needs to be believed by enough participants in a single bond auction to move the yield curve by a few basis points. A few basis points on $36 trillion in outstanding US debt is billions in additional annual interest.
This is the war’s third front. The first front is kinetic: missiles, drones, and 100-munition strikes on Tehran. The second front is energy: the Strait of Hormuz, the insurance market, the fertiliser blockade, the helium bottleneck. The third front is financial: Treasury bonds as a weapon, de-dollarisation as a strategy, and portfolio surveillance as a threat.
Iran has lost 70 percent of its ballistic launchers. It has lost its navy. Its air force is destroyed. Its supreme leader has not been seen. Its internet has been dark for 504 hours. And from inside that darkness, its parliament speaker just told the world that buying American debt makes you a combatant. The country being bombed into the Stone Age is threatening to destabilise the currency of the country doing the bombing. The weapon is not a missile. The weapon is a sentence on X that raises the risk premium on $36 trillion in sovereign debt.
The PBOC added gold for the 16th consecutive month. USD share of global reserves has fallen to 56.9 percent from 71 percent in 2000. Foreign ownership of US Treasuries has dropped to 30 percent from a 50 percent peak. The de-dollarisation was already underway. Ghalibaf just gave it a wartime accelerant.
Bonds as battlefield. Portfolios as targets. Yields as weapons. The war just went from the strait to the spreadsheet.
open.substack.com/pub/shanakaans…

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When a China-based 'professor' who is not a professor comes out of nowhere and is suddenly everywhere promoted by all the usual suspects and with massive algorithmic support it is worth asking a lot of questions about why.
x.com/EscanorReloade…
Red Panda Koala@RedPandaKoala
🚨 Professor Jiang almost brings Tucker Carlson to tears “I think if we talk longer, I'm going to start to cry on camera, so I'm going to take an emotional break here. I'm half kidding. It's emotionally resonant for me because I know that you're telling the truth and it comports with everything that I've seen and so it's hard to accept something that's true.”
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