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"When the bull market took off because of the competition for banking dollars, you saw a real dilution of ethics," this person said.
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Henceforth, the Federal Reserve would no longer exchange other central banks' dollars, or anyone's, for gold at a fixed price.
You can use time-bank dollars to buy someone else's services, like sweeping the street for an hour.
It is also lending banks dollars, to compensate for an unwillingness by U.S. money market funds to lend to European banks.
It said a decision Thursday by the European Central Bank to lend troubled banks dollars for longer periods under eased terms would help the banks weather the effects of the crisis and an economic downturn.
Basically, Thiermann walked viewers through where their bank dollars actually went.
I started the Occupy Wall Street time bank, an exchange-bank system, which gives people a time-bank dollar for every hour of their time.
In that sense the scale [of the dollar-supplying operation] was small and I don't think there's any problems at all with Japanese banks' dollar funding".
The huge dollar-denominated liabilities that that activity produced overshadowed the Turkish banks' dollar-denominated assets.
The slide in South Korea's won, last year's worst-performing currency, also squeezed some companies and banks' dollar liquidity.
But he worries about what might happen if central bank dollar reserves stop growing at such a fast pace.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com