the financial markets are risks like the people wrestling control of the monetary system from the Fed, which is not on people's radar. Man, so much to respond to. I feel like there are two separate threads there. One is your realization about the euro-dollar market. And there, I want to point listeners to there are many episodes that we've done on the internationalization of the dollar, the dollar system, the euro-dollar system. But one in particular with Levin and about the evolution of the euro-dollar system is one I highly recommend because the dollar really is at its core, it's a denomination. It's a denomination. And French banks operating outside of the Federal Reserve System have the ability to issue dollar-based loans without actually secure collateral and gaining unlimited access to dollar swap lines gave them a lifeline where they didn't have one. And it's so important for understanding the strength of the dollar and why it goes up in these kinds of credit crises. I also (24/45)
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