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Dollar funding crisis reaches...Switzerland. This isn't (just) Credit Suisse, though.

Eurodollar University

00:00

Federal Reserve Overseas Dollar Swaps - Is the Fed on It?

In December 2011, central banks around the world were using their own treasuries and where possible or on occasion accessing the feds overseas dollar swaps. "Take a look around you. Does it look like everything's okay?" he asks. The overseas dollar swaps are worthless. They're useless. Their history shows conclusively that when dollar swaps go up, that doesn't mean that the funding problem is over," says Julian Zelizer.

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