"Every few months, approximately every quarter, the whole market is glued to the TV trying to understand what 12 people in a room called the New York Federal Reserve will decide on what the interest rate - the monetary policy - should be of the most important country on the planet. How is that a system that makes any sense? If you if you just think about it, think of yourself an alien that comes to the world and tries to understand how these humans live. Basically, it just makes no sense, right? So, and the fun fact is if you're an Argentinian, if you're a Brazilian, if you're a Turkish guy, if you're a South African, if you're from any of these countries, if you're a Russian - meaning if you're from an emerging market country with a with a relatively large population (that's the same for India for China, etc.), then the decision of what happens in New York is more important than the decision your own central banker or politician makes in your own country that you have voted for, if it's a democracy that you had any say in it. It's kind of is irrelevant if the Turkish central bank tomorrow decides or the Brazilian central bank tomorrow decides to raise their local rates by 50 basis points or by 100 basis points, right? And at the same time the Federal Reserves decides to cut interest rates the opposite by 100 basis points. It's completely irrelevant what the Turkish central bank or the Brazilian central bank has decided."