Bretton Woods bargain with Faust and future of fiat

We talk about our previous monetary regime under Bretton Woods with author, Benn Steil. Also, the New York minute has been shaved down to a Chicago millisecond - just about the time it takes for high frequency trading algos to front-run trades at the Chicago Mercantile Exchange, and last week’s AP Twitter hack that sent markets plummeting in just minutes. This and more on today’s Daily Duel. We then discuss Mel Watt, the president’s nominee to lead the Federal Housing Finance Agency. Will he help homebuyers where predecessor Ed DeMarco did not? Plus we break down fiat money. And no, it doesn't involve Italian motorcars. There might be more that backs fiat than you think.

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