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![ManuelSamuel Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::121774846.png) Manuel Gomes Samuel [@ManuelSamuel](/creator/twitter/ManuelSamuel) on x XXX followers
Created: 2025-07-17 11:40:33 UTC

Thanks Yaser. That’s a solid theoretical construct—especially from a risk-neutral rational investor’s perspective. Sound in theory—USD as discounted risk-adjusted returns. But some historical examples appear paradoxical: For instance, in 2018–19 & 2022, USD rose despite tariffs or weak growth—on risk aversion, not superior returns. The USD often defies asset pricing logic under stress—it's not just yield, but global trust & liquidity that mostly drive flows.


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**Related Topics**
[pricing](/topic/pricing)
[superior](/topic/superior)
[tariffs](/topic/tariffs)
[united states dollar](/topic/united-states-dollar)
[$raade](/topic/$raade)

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