Payment system, remittance, and freedom from gubmint interventions, such as quantitative easing and near-0/negative interest rates! The last one is huge. After years of sub-normal rates, central banks are starting to deleverage their balances. Rates are rising and this is causing yields to rise and equities to burp. Even with great earnings, the stock market goes down. Normalization of rates, say 4%, on 21 trillion of USA debt is big. To even maintain payments on normal interest, the gubmint will have to let the economy run a little hot. Trump tried to enable this by killing Obamacare, which was basically another tax. Couldn’t do it, so he had to go for the suboptimal basic tax cuts. He is now talking about infrastructure spending, while the dollar secretly devalues. Dxy shows a big head and shoulders in the weekly, could possibly go down to low 80s without some sort of gubmint intervention. Kudlow said they may starting buying dollars (if gold starts going up, can’t let the sheeple run to go uh huh!) Who knows how dollar devaluation will go with fed raising rates tho?