The Fed Isn’t in Charge of the Dollar. The Eurodollar System Is.

Believe it or not, the real heavyweight behind the U.S. dollar isn’t the Fed—it’s a massive offshore interbank network called the Eurodollar system. Monetary historian Jeff Snider argues the Fed has lost control over global liquidity for more than 15 years as this hidden ledger-money world quietly dictates credit flows, interest rates and financial stability.

Along the way you’ll get the 411 on why stablecoins feel eerily like shadow banking, how a “Silent Depression” has been brewing since 2008 (all disguised by booming asset prices), and why the much-ballyhooed crypto debasement narrative might be totally off base. Stick around for Jeff’s counterintuitive portfolio tips—he’s betting there’s no debasement coming, just a big deflationary hangover.

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