Collateral as Currency, Part 1
We’ve spent an enormous amount of time poring over every last detail of the hows and whats of financial collateral. It’s time we go deep into why; as in, why collateral is so critical to the operation of the world’s reserve currency. It is so profoundly intertwined into the eurodollar fabric, there really is no separating it from currency. Without the one, there is no energy to modern ledger money.
