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The Offshore Global Dollar System | ft. Jeff Snider

Money & Macro Talks

CHAPTER

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.

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