“ The blockers shield tax-exempt investors from liability. But the proposed changes could add hefty taxes to any distributions made to SWFs if the blocker is deemed to have “effective control” of a portfolio company.”

And put their money where?

We would live in a very different world if the Bancor existed. Instead we got all the things a dollar-denominated system of international trade predicted: the export of industry and the political unrest that followed a status demotion in practically all of middle America.

In the grand scheme of labor vs capital, the dollar reserve has been a heavy foot on the scale in favor of capital.