The long-ignored currency war just went thermonuclear, and ground zero is Japan. Tokyo’s 10-year yield just blew past 1.7%—a level not seen since 2008—detonating the yen carry trade that has quietly financed the world’s debt addiction for thirty years. “The silent money printer is dead,” warns Daniela Cambone, as the unwind triggers a global scramble for the exits.

In today’s interview, Clem Chambers of ANewFN.com dissects the carnage: the collapse of this “nuclear” carry trade means trillions parked in U.S. Treasuries, tech high-flyers, and European debt are being yanked back at once, unleashing a brutal liquidity shock across every market.

https://www.zerohedge.com/news/2025-11-26/japans-debt-bomb-explodes-12t-global-exit-begins-currency-war-goes-nuclear

24 minutes