… except I wrote this one more than two years ago. As banks were starting to distrust each other before the pandemic even entered the global consciousness, the Fed was already running an overnight repo facility. _ Hegemony Undone Money has always played a vital role in changing the balance of geo political power from what were formerly deemed the fringes of the world stage to the center. As economies continue to move online the increased velocity of money is accelerating the demise of the van...