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This starts to get outside the scope of the article, but it is not true that USD central authorities fully or even majority control the money supply through reg
by simple-thoughts 4y ago
This starts to get outside the scope of the article, but it is not true that USD central authorities fully or even majority control the money supply through regulation. You can create a bank in UAE or many other jurisdictions with a local license that allows you to deal in USD completely outside the jurisdiction of US enforcement agencies. Even within the jurisdiction of US agencies, there is a shadow banking ecosystem that is poorly understood and highly illegible. Most USD are not created within the jurisdiction of US authorities because USD is an international trade and reserve currency.