X @Nick Szabo

RT Yet another commodity guy (@tleilax___)The US banking system has borrowed about $1 trillion, or 30% of its balance sheet from foreign creditors, in foreign currencies.Predominantly in EUR ($400b), JPY ($250b), GBP and CHF. JPMorgan singlehandedly has $100 bln of Euro debt, for example. The US private sector adds another trillion of non-USD debt. Those amounts have materially increased over the past 10 years.It seems that there is currently a temptation to wield the Federal Reserve bilateral standing doll ...