Currency Swap Facility Comment — Brian Romanchuk

People read much into the implications of currency swaps that is not there. Much ado about nothing. Brian explains why in terms that are simple to understand.

Why swaps?

You either have capital controls, or you have central banks acting as swap dealers of the last resort, or you have periodic meltdowns of the currency system. Pick your poison.

Bond Economics
Currency Swap Facility Comment
Brian Romanchuk