Another
great interview on Real Vision with Luke Gromen. He covered a lot, but I thought his summary
below of Bretton Woods and how other countries are turning their backs on it,
and the implications, is very useful.
Not for nothing, but part of the reason to prefer a Trump over Clinton
was because of the belief that Clinton was prone to follow path one:
“…look, the deal was-- to be flip, the deal
was, you take our jobs. You take our factories. You take our dollars. And then
you lend us back the dollars, and we'll buy the stuff from you. And in third
quarter '14, with the rollover in FX reserves, the world's saying, we're not
taking the dollars anymore. And so I think what's ultimately happening is
there's two paths for the US to go with that. Path one is, we'll invade your
country and make you take the dollars. And path two is, fine. Deal's off. We'll
bring the factories back. We'll bring the jobs back. If you don't want the
dollars, you don't get to keep the factories. It's your choice.”
