If you aren’t a Eurodollar University member, become one and get access to Classroom vids, The Basics, Weekly Recaps, Q&As, and all the special presentations right here.
Wholesale Revolution, Part 3
The Federal Reserve was designed specifically to handle the monetary crisis in ‘07 - 1907. If the monetary system had simply remained as it was back then, there wouldn’t have been 1929 nor 2007 (and so much in between). But the system did keep evolving even if authorities refused to keep up and we all paid the price.
Member Video #13: Non-banks (MMF)
In 2011, Ben Bernanke said he didn’t think money market funds should exist. But they do, and play a pivotal part in the monetary plumbing, a key thread in the eurodollar fabric. Bring on the non-banks.
Wholesale Revolution, Part 2
We don’t get to the eurodollar system’s long chains of interbank transactions without having first developed an intricate, useful interbank system. Maybe surprising to some, the Federal Reserve was supposed to be its replacement…until it wasn’t.
Member Video #12: Symptoms of Stress
Having laid out three different types of “links” in these long chains of interbank transactions, we’re on the lookout for three symptoms of potential systemic strain. But first, a look out how money rates can be misleading.
Wholesale Revolution, Part 1
Before there were long chains of interbank transactions in the eurodollar interbank ledger, there had to be an interbank ledger. The history of bank networks is fundamental to what money has since become.
Member Video #11: Intro Into Currency Swaps & FX
Going back to our monetary diagrams, it’s time to throw in the derivatives wrinkle. What is a dollar short, and why is it such a big deal? We explore it here.
Decoding Curves, No Conundrums Needed; Part 3
Find out what Fast Eddie’s handiwork led the world toward. And while we all moved toward our shared monetary fate, those who said they wouldn’t let it happen could only tell something big was happening without figuring out what it was. They should’ve decoded the curves.
Member Video #10: Detour, The Reserve Currency Vehicle
Rather than keep going deeper into the eurodollar fabric, Jeff thought it might be best first to take a brief detour into the foundations for any reserve currency regime. When doing so, we can begin to appreciate why the eurodollar was so successful…until it wasn’t.