The Brains Trust, page-14094

This might be a simple answer but one thing that has been trending up is cash holdings... You do raise a very curious question, and not one that is easy to answer.

Debt servicing is clearing pushing the USD higher, and perhaps the illusion that a trade-war will be net positive for the USD. The common consensus seems to be that the USD is the last standing 'safe haven' asset however I believe quite the contrary to be true. The US economy seems to be a vacuum for the remainder of the world right now, suffocating EM economies and global currencies.

All doom and gloom isn't it? Although perhaps a crash in the US market and subsequently the USD will be the welcome relief we've been waiting for.