Inflation in the Political Economy

With Thatcherism, with the embrace of Friedman, there was a desire, Hey, let's measure the money. Why is it being conducted offshore? Because they can be infinitely leveraged. They can make lots of money. So we have not experienced inflation in the political economies that we'd regard as the core,. like European nations, the U.S., and the like. The differential would be the sheer scale and magnitude of publicly traded government bond markets.