
The Offshore Global Dollar System | ft. Jeff Snider
Money & Macro Talks
Transacting in Claims on US Dollars
In the 1950s, you had a deposit claim on what used to be called the continental dollar. The actual use of paper hand-to-hand currency is cumbersome and inefficient. So it's easier just to transact in claims on US dollars. That's how we remove the actual physical currency and simply trade bank transactions back and forth.
00:00
Transcript
Play full episode
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.