Referencing only today, right now, the monetary transmission channel is through international oil trade.
The banker, driving to the bank, see a much longer queue at the gas pump. That observation weighs on his thinking and he looks at energy dependency in his borrowers. The banker raises margin requirements.
Seriously. We look for excessive overlap, when the crowd is a bit too fat for the door, the Gibbs phenomenom. The spontaneous order comes for local phase locking of the queues.
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