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An escalating series of monetary tremors still shaking the eurodollar's world.

Eurodollar University

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The Myth of the Fed

The rate hikes that most have rejiggered the system a little bit, deposits have flowed out from especially US regional banks and other banks around the rest of the world. Money market funds have been nothing more than an engine of recirculation of monetary resources throughout the global economy. We saw this in the late 1970s, early 1980s, Paul Volcker's Fed,. The entire myth of the Fed was predicated on the idea that the Fed was going to make bank reserves expensive by constricting their level.

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