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Dylan16807today at 3:34 AM1 replyview on HN

If the sudden spike is so bad, why would a country fail to taper their reserves?


Replies

eliothotoday at 3:48 AM

this is an interesting market design question: the point is that tapering would require everyone knowing everyone else's depletion clocks. As they are unknown (sanctioned trade, non-public state figures), the opacity is the game itself (that I called game of chicken in other comments). Surely the main players are trying hard to guess each other's numbers by every mean possible