5min chapter

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What are Smarter Markets? Episode 3 | Erik Townsend Host of Macrovoices

SmarterMarkets™

CHAPTER

The Global Financial System Is Built Around This Idea

The whole idea of the way that the global financial system works to day is, if you're a small country, you got to have a whole bunch of us. Dollars on hand so that if something goes wrong and somebody starts attacking your currency,. If the shorts are trying to drive your currency into the ground, the central bank has to be ready to buy its own currency. Well, how do you do that? You buy it using us. Dollars in order to do that. The us. Dollar has become the centre of theglobal financial system. And despite the fact that since the mid 19 sixties, the rest of the world has been objecting pretty darn loudly to the unfair advantage that

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