Too Long; Didn't Read
Failure of the USD as a global reserve currency means we must reimagine money. Money is a topic bound to emerge throughout the rest of 2020 as an important issue whose definition embodies the failures of the global financial system. The Federal Reserve Banks have emerged with a single role – to support asset prices with the rolling put offered to capital markets as the last 4 or 5 ‘governors’ of the US Fed have come and gone. They thought they could kick the can down the road forever, and somewhere along the way that can shifted into something a lot more like a grenade.