David McWilliams

That is very dangerous stuff.

And that's where, and I think we might even leave it here.

I mean, that's what I think.

But Brendan's book, it's fascinating in a whole variety of areas.

But I think what it does is it shows us

A, how almighty the dollar is, i.e.

how ubiquitous it is, and how hard it is going to be to ever replace it, or at least replace it in the next 10 or 15 or 20 years, no matter what the Americans do.

That's number one.

But the second idea is how a politicized Fed could highly, highly, highly supercharge American foreign policy through their monetary policy, which they haven't done before.

They haven't said, look,

The dollar is our dollar.

If you want it, you do what we say.

What they've done thus far is always said, look, the dollar is non-political.

You can use it and we'll help you along the way.

The Trump administration or whatever comes after it could make the dollar highly politicized.

And that would be the beginning of the end for the dollar.

Because I think Brendan's big point is that the dollar is almighty because it's beyond politics.

It's just this creation of credit.

It's a currency that people accept.

The minute you put strings onto a currency, for example, I think that that's the end of the currency.