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The Importance of Property Rights in the Transformation of the Financial System
Property rights is a huge thing. What does it mean to own property? Who owns what property given that if my access to a resource comes from owning it, which also involves preclude other people's access and more stored resource gives me more capacity to respond to future eventualities. If all revenue gets reinvested, owned have an embedded growth obligation. That's among us because we don't know how to make a global financial system and not World War III any other way. It makes sense that the dollar as a reserve currency has both the most optionality and the highest speed of exchange with the most stability.