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The To-Do Note That Triggered a Yen Rescue

A photographer captured a handwritten to-do list on Secretary Bessent’s desk stating, “Buy Japanese Yen (JPY) $5-10 bil”—fueling market speculation. This rare intervention may not be the last action against “disorderly yen movement,” signaling the importance of Japanese economic stability and orderly yen markets to U.S. national security objectives in Asia. Read more...

The Strait of Hormuz Shows the U.S. Needs a New Energy Security Strategy

Energy insecurity is a well-known vulnerability that Iran has exploited on a global scale. The scale of the Strait of Hormuz closure has thus far been assessed as roughly three times larger than that of the 1973 oil embargo. This impact reflects a broader shift already underway, and in response, the U.S. must adopt a structural energy resilience strategy.Read more...

ASP in the News: Lt Gen Norman R. Seip Discusses America’s Defense Production on National Review

On July 26, ASP President Lt Gen Norman R. Seip, USAF (Ret.) published an op-ed in National Review calling for a surge in America's defense production. Noting supply shortages exacerbated by Russia’s invasion of Ukraine and the war with Iran, Lt Gen Seip believes it is plainly obvious that the U.S. is not truly prepared to fight a high-intensity conflict with a peer adversary such as China.Read more...