It's hard to tell what premise you are arguing for. Are you trying to claim that the system I outlined is not really less coupled? Or are you trying to claim th

It's hard to tell what premise you are arguing for. Are you trying to claim that the system I outlined is not really less coupled? Or are you trying to claim that being less coupled does not really lead to less coupling? "All your proposal does is give the system a few more sources of instability, IMO." Actually no, the one with a few guys with their hands on the levers, and that is also politically controlled and influenced, is far less stable than one where you are free to choose what is a best form of hedging for you.