--- /dev/null
+---
+type: video
+title: "The Yen Battlefront: Europe's Weak Hand and the Dollar Stablecoin Hierarchy"
+date: 2026-05-28
+modified: 2026-05-28
+publication:
+ name: Mine Print Hash
+ issue: 2026
+ volume: 22
+tags:
+ - macro
+ - bitcoin
+posse:
+ 𝕏: https://x.com/MinePrintHash/status/2060116264014749825
+ YouTube: https://www.youtube.com/watch?v=8gZXTUm53zE
+ Substack: https://www.mineprinthash.com/p/the-yen-battlefront-europes-weak
+ LinkedIn: https://www.linkedin.com/posts/cotsuka_europes-energy-shock-is-becoming-sovereign-debt-share-7465882569058828288-Jkga/
+---
+
+import YouTube from '@components/youtube.astro';
+
+Europe's energy shock is becoming sovereign-debt stress as late-cycle disinflation leaves offshore money centers exposed.
+
+Matt Dines argues Japan's onboarding onto T-bill-backed stablecoins may be a tipping point: a shortcut up the monetary stack, past the Eurodollar system.
+
+<YouTube
+ title="The Yen Battlefront: Europe's Weak Hand and the Dollar Stablecoin Hierarchy"
+ videoURL="https://www.youtube.com/watch?v=8gZXTUm53zE"
+/>