💸💵What is a EuroDollar?

➡️The Mystery Begins
The Euro is NOT what you think it is.
It's our hidden monetary system, lurking in the shadows.
Think of Euros as a black hole, hidden yet profoundly affecting everything around it.
The Government doesn't have a monopoly on money; the Euro is completely outside the purview of the Fed

➡️The Urgent Question
What is the Euro's origin? No one is sure!
In the late 1950s, European banks began transacting in US claims, creating a network of outside the US.

➡️ The Birth of Euros
A Federal Reserve report from 1960 reveals the emergence of Euros as European banks sought dollar deposits for investments.
Euros aren’t actual dollars; they are a web of claims and transactions.

➡️ The Global Money Network
Euros enable banks worldwide to transact efficiently, linking monetary resources with needs across continents.
It's more a global communications network than a currency.

➡️ The Ledger Money System
Euros aren't physical dollars; they are ledger claims on USs, a virtual currency.
Banks create claims and then use them to intermediate monetary needs all over the world.

➡️A New Era of Prosperity
Euros became the lifeblood of a globalizing economy, facilitating trade and investments on an unprecedented scale.
This system brought unparalleled global prosperity.

➡️Unintended Consequences
Euro has malfunctioned since ‘07, the world faces risk of undoing decades of that progress.
Competing arrangements can't replicate what Euros did so well—widely available and acceptable money.

➡️The Ongoing Challenge
To replace Euros, something has to replicate its capabilities, an immense challenge.
Global reserve currencies MUST be a highly useful medium.

➡️ The Final Message
The Euro is our monetary system, whether you acknowledge it or not.
Understanding this hidden system is crucial as it affects our lives, not strictly the global economy.