Divine “Adversarial Cooperation” Climbs The Wall Of Worry

“But the luckiest day in my life is the day I was born, because I was born in the United States.” (Warren Edward Buffett)

(Source: @whitehouse, caption and editing by the Author)

Summary:

· Mr. Market’s Divine Risk Off Comedy thesis is on the wrong side of the Wall of Worry surrounding the Risk On Divine Conspiracy Theory thesis.

· President Trump’s divine prescience, on the Papacy, and the Market, frames the divine precedent for his Third Term.

· Trump’s alleged computationally irreducible Liberation Day tariff equation, of “Mar-a-Lago Accord” Theorem, is being solved by applying Pareto’s Principle.

· The USA and China are Adversarially Cooperating.

· DOGE is pressuring the Fed to become Adversarially Cooperative, rather than Adversarially Independent, after the weak Q1 GDP print.

· OPEC+ Adversarial Cooperation is framed as “Odd” by those who do not understand the energy security/market share algorithm behind it.

· The “oddity” in OPEC+ Adversarial Cooperation is a catalyst for the hyperbolic discounting process, which Trump frames as ex ante disinflation and data-dependent Chair Powell will see ex post facto.

· Hyperbolic discounting of the “oddity” will be a rapid return to the familiarity of US Exceptionalism.

· After the local election “Starmergeddon”, Sir Keir Joseph of Starmergrad is desperate.

· Desperate Sir Keir Joseph of Starmergrad has accepted fiscally negative Indian terms of trade and Trump Buyout heads terms for the Special Relationship.

· Rachel Reeves is desperately gambling, with the Gilt Market, for growth to fill her fiscal black hole.

· The Bank of England is being fiscally dominated at the expense of the long-end of the Gilt Market.

Extracts

· Disinflationary tailwinds from China are blowing, via the Eurozone, through the developed central banking community.

· The sequential easing process, finally endorsed by the Fed, is required by Mr. Market to provide a Risk On halo to the unfolding managed trade/FX negotiations.

· Above all, a Risk On halo is required for a Trump Third Term.

· In a profane contradiction to his life’s work, the Pope’s funeral is framed as the Risk On halo for the holy trinity of peace in Ukraine, a managed trade/FX deal, and a Trump Third Term.

(Source: the Author, April 26^th, 2025)

(Source: Bloomberg, caption and editing by the Author)

(Source: BBC, caption by the Author)

· “Liberation Day” has liberated the Fed from its Congressional dual mandate and re-aligned the central bank with the “Onshore Mar-a-Lago Accord” imperative.

· “Liberation Day” has liberated a phase of Beggar-Thy-Trade-Partner deflationary trade competition into the global economy.

· “Liberation Day” has also liberated a phase of Beggar-Thy-Trade-Partner deflationary competition to accumulate US Dollars.

· “Liberation Day” +1 marked the fact that Chairman Powell missed the disinflationary key signal that, in a crisis, Mr. Market still has liquidity preference to hold US Dollar Cash rather than any other asset class or commodity.

· Mr. Market’s liquidity preference is a begrudging global acceptance of the US$ Exorbitant Privilege that signifies continued reserve currency status, and a multilateral vote for “Mar-a-Lago Accord”.

(Source: the Author, April 5^th 2025)

(Source: Bloomberg, caption by the Author)

· Global dictatorship, and a Trump third term, have become defined and sustained by the “reciprocal” credible threat from “co-operative adversaries” with commensurate skin in the game.

· The USDNI’s “Adversarial Cooperation” keywords and thesis are a metaphor that should be translated literally.

· A global managed Trade and FX regime is the medium of economic transfer between the “adversarially cooperative” symbiotic agents of global dictatorship.

· Tariffs are the catalyst for the process through which the managed terms of trade of the global dictatorship system will find a dynamic equilibrium.

(Source: the Author, April 19^th 2025)

(Source: Bloomberg, caption by the Author)

(Source: Bloomberg, caption by the Author)

· “Mar-a-Lago Consensus” just had its US Minsky Moment reveal.

· The US Minsky Moment is the loss of the Fed's credible commitment.

· The loss of Fed credible commitment is a result of the insolvency that DOGE will exploit.

· The Fed’s credible commitment, and, hence, monetary policymaking is being realigned with DOGE.

· The US Minsky Moment reveals that DOGE is the equivalent of Paul Volcker for the incoming secular economic expansion and bull market.

(Source: the Author, March 15^th 2025)

(Source: Bloomberg, caption by the Author)

· The “Mar-a-Lago Consensus” author in residence has, finally, confirmed that those who do not finance the “US Unipolar Exorbitant Privilege” will be sanctioned.

· OPEC+ must cut energy prices, at least as much as the “Mar-a-Lago Consensus” threatened tariffs, on sanctioned non-US purchasers, to maintain market share.

· China confirms that “Mar-a-Lago Consensus” is deflationary, upstream and downstream, in energy security terms.

(Source: the Author, December 21^st 2024)

(Source: Bloomberg, caption by the Author)

(Source: the Author, December 14^th, 2024)

(Source: Bloomberg, caption by the Author)

(Source: Bloomberg, caption by the Author)

(Source: Bloomberg, caption by the Author)

(Source: KeySignals, caption by the Author)

(Source: the Author, March 15^th, 2025)

(Source: Sky News, caption by the Author)

(Source: Guardian, caption and editing by the Author)

· The UK’s ugly Golden Ratio will frame its Minsky Moment in ugly terms.

· The “Shock” of the UK Minsky Moment drop has put the Bank of England between a “BlackRock and a Hard Place”.

· Anecdotal Intelligence (AI) suggests that the Trump Special Relationship bailout will be more like a management buyout.

(Source: the Author, March 1^st 2025)

(Source: GBNews)

(Source: Reuters, caption by the Author)

(Source: Bloomberg, caption by the Author)

(Source: bankofengland, caption and editing by the Author)