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Does the Fed Have Any Idea What It’s Doing? | Jeff Snider & Brent Johnson
Hidden Forces
The Importance of Standardizing the Dollar System
The dollar system is very decentralized. The Fed tries to centralize it. They try to pretend they're in control of it. And so politicians are doing what politicians always do, which is more than they should. It's almost like the Japanese example where every time it fails, the private system fails, the government steps in, that doesn't work. We have more private failure. But if it ever really started to break up with an Indian textile manufacturer you know nobody made a trade with them. I would argue that the US government would try to enforce it right now because the market enforces it for them.
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