The Evolution of the Yield-Seeking Derivative Structure Food Chain

There's nothing, there's no cultural bias that excellains the predominance of it being Asian. So, in a sense, it's the global balance sheet. And Asia, much earlier on, most explicitly Japan, but everybody else who had pegged their currencies to the dollar have been active financial repressors for 30-plus years. The evolution of this yield-seeking derivative structure food chain is 30- plus years old here and only came into fruition in Europe and the US post-QE in 2009.