TRS
Trimas Corporation
stock NASDAQ

In the 1980s Japan was having a terrible financial crisis, which led to them loaning out massive amount of Yen on the cheap. Like, negative interest rate cheap.
What this did, is get foreign investors interested in taking out loans in yen. However, instead of investing the yen into the Japanese economy, a few things would happen.
A safe route, would be to simply buy US bonds, and get interest on money that was free for you to borrow.
Where most of the money went, was into high yield sector like technology (this led to the dotcom bubble).
When the US economy crashed, people were selling stocks and repaying loans (massive loans to the BoJ), which caused the yen to gain some ground.
Major debtees, deep in massive margin calls, had few options to repay their loans. Their best bet, was to heavily short the yen, to take out massive loans, and start the cycle over.
This worked, until the 2008 financial crisis, when the BoJ raised their interest rates for the first time since the 80s, spawning chaos.
From 2007~2011, you'll notice the Yen gaining on the USD.
*Something happened (which I don't fully understand)* in 2012, where yen gets shorted, and usd/jpy starts to rise again.
Now, this is when it is important to understand the phrase Total Return Swap. They are often large arbitrage deals between banks and rich people. Essentially, finding ways to borrow money from one country to buy bonds in another. TRS typically have long maturity dates, 1 year, 3 year, or in this case, 5 year TRS.
So the yen short was opened in 2011, the market feels it 2012. The us economy starts its big boom.
In 2016, the swaps come due, and they make ripples in the economy. This is because those yen shorts arent the only thing being shorted and used as leverage.... There are other stocks thrown into a basket with the yen, which leads up to basket shorts.
Famous investor Michael burry noticed some weird price action, particularly in one stock, GME. By (I think) 2018, they had invested large amounts of capital into gme. Shortly after that we get RK and the reddit community following his lead, and in 2021 (two 5 year TRS) swaps occured automatically and without gaurdrails, which caused that massive squeeze.
Tldr:
Look at the usd/jpy chart next to other stocks like the S&P 500, or GME. Zoom out so you have from the 1980s to present. You can see a clear correlation between usd/jpy and the health of the US economy.
These swaps are likely 5 year TRS (2011, 2016, 2021, 2026). I believe they mature at the end of this quarter, which is today.
Interestingly enough, my theory of TRS expiring today, has nothing to do with usd/jpy being at its highest ratio since 1986.
Take what you will, do your own research. Maybe start by searching in the Epstein files, he is involved in TRS which matured this month. Probably unrelated but maybe not.

In the 1980s Japan was having a terrible financial crisis, which led to them loaning out massive amount of Yen on the cheap. Like, negative interest rate cheap.
What this did, is get foreign investors interested in taking out loans in yen. However, instead of investing the yen into the Japanese economy, a few things would happen.
A safe route, would be to simply buy US bonds, and get interest on money that was free for you to borrow.
Where most of the money went, was into high yield sector like technology (this led to the dotcom bubble).
When the US economy crashed, people were selling stocks and repaying loans (massive loans to the BoJ), which caused the yen to gain some ground.
Major debtees, deep in massive margin calls, had few options to repay their loans. Their best bet, was to heavily short the yen, to take out massive loans, and start the cycle over.
This worked, until the 2008 financial crisis, when the BoJ raised their interest rates for the first time since the 80s, spawning chaos.
From 2007~2011, you'll notice the Yen gaining on the USD.
*Something happened (which I don't fully understand)* in 2012, where yen gets shorted, and usd/jpy starts to rise again.
Now, this is when it is important to understand the phrase Total Return Swap. They are often large arbitrage deals between banks and rich people. Essentially, finding ways to borrow money from one country to buy bonds in another. TRS typically have long maturity dates, 1 year, 3 year, or in this case, 5 year TRS.
So the yen short was opened in 2011, the market feels it 2012. The us economy starts its big boom.
In 2016, the swaps come due, and they make ripples in the economy. This is because those yen shorts arent the only thing being shorted and used as leverage.... There are other stocks thrown into a basket with the yen, which leads up to basket shorts.
Famous investor Michael burry noticed some weird price action, particularly in one stock, GME. By (I think) 2018, they had invested large amounts of capital into gme. Shortly after that we get RK and the reddit community following his lead, and in 2021 (two 5 year TRS) swaps occured automatically and without gaurdrails, which caused that massive squeeze.
Tldr:
Look at the usd/jpy chart next to other stocks like the S&P 500, or GME. Zoom out so you have from the 1980s to present. You can see a clear correlation between usd/jpy and the health of the US economy.
These swaps are likely 5 year TRS (2011, 2016, 2021, 2026). I believe they mature at the end of this quarter, which is today.
Interestingly enough, my theory of TRS expiring today, has nothing to do with usd/jpy being at its highest ratio since 1986.
Take what you will, do your own research. Maybe start by searching in the Epstein files, he is involved in TRS which matured this month. Probably unrelated but maybe not.

Did you talk to TRS? What did they say?

I am trying to establish direct deposit for a pension. The form (from TRS, the Illinois Teacher Retirement System), requires an acceptance signature on the form from the financial institution receiving the direct deposit - Fidelity in this case. We have tried unsuccessfully to get this done at a branch, then via phone support. We just got a letter in response to the last attempt stating:
"Please note we are unable to complete third party paperwork. Therefore, I am sending this letter in lieu of completing your form."

I am beyond frustrated with the lack of support we are getting. Has anyone else had to do this, and navigated Fidelity successfully?