wrt to psmith pants-mongering (hip trendy rascal Archer slid panty?), I always figured that if short squeezes are billionaire's poker (4 years being the longest hand of which I'm aware), betting against a major central bank would be trillionaire's poker.

For most people, it's not a question of if* they know what they're doing, but if you can stay solvent (pace "in the long run") long enough for the tide to go out.

(I don't know about you, but if I ever attempted to attack THB, my net worth would a.a. meet an absorbing barrier at 0)

* if I were a central bank, and someone asked me if I knew what I was doing, I would be tempted to reply "we do not have a single theory, but rather a cluster of models and results".