Among other things, it sets up a Financial Stability Oversight Council to oversee systemic risk in the economy, creates an independent consumer financial protection bureau housed within the Federal Reserve and establishes exchanges for the trading of over-the-counter derivatives.

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Finally, gold offers tail-risk protection as it acts like a safe haven in case of systemic events.

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Collateralised lending offers a degree of protection to the individual lender, but it has some unfortunate systemic effects.

ECONOMIST: Bricks and slaughter