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I like this part: “By manufacturing money to lose value, markets for financial products emerge that otherwise would not. Products have emerged to help people financially engineer their way out of the very hole created by the Fed. (…) The financial sector has captured a larger percentage of the economy over time because there is greater demand for financial services in a world in which money is constantly impaired. Stocks, corporate bonds, treasuries, sovereign bonds, mutual funds, equity ETFs, bond ETFs, levered ETFs, triple levered ETFs, fractional shares, mortgage-backed securities, CDOs, CLOs, CDS, CDX, synthetic CDS/CDX, etc. All of these products represent the financialization of the economy, and they become more relevant (and in greater demand) when the monetary function is broken.” Sounds logical to me. The world would have no need for the many financial products under Austrian economics, based on a hard currency that is not affected by inflation.