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Does the Fed Have Any Idea What It’s Doing? | Jeff Snider & Brent Johnson

Hidden Forces

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Dollar Swap Lines and Emerging Markets

CNN's John Defterios asks what effect this has had on emerging market economies. He says there is an arrogance here because even with these dollar swaps, which in my opinion, they don't ever work. And I think that they will give a swap line to our allies and to the people that we're friendly with, but the economies that we're not friendly with or who are not scratching our back,. Then we withhold it from them until they get in line. It doesn't do any harm to South Africa or Turkey. The idea that the rest of the world will have a crisis and the US will be immune was absolutely insanity.

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