The hierarchy of financial policies

Sep 17, 2018

An illustration picture shows Euro coins, photographed in Warngau April 3, 2013. World shares, the euro and German bonds barely moved on Wednesday as investors turned cautious before this week's policy decisions by the Bank of Japan and European Central Bank, followed by U.S. jobs data. REUTERS/Michael Dalder(GERMANY - Tags: BUSINESS)

There is a clear hierarchy of reputation and power between the four domains and the authorities that run them. Image: REUTERS/Michael Dalder

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