Officials admit this was a huge part of 2008, 2020, maybe the next one, too.
Eurodollar University - En podcast av Jeff Snider
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It has taken decades for officials mainly *outside* the US to catch on about massive monetary innovation. Currency and forex swaps aren't weird derivative contracts certain banks use, they are money and money creation. The BIS belatedly tells us (what we already knew) there's $80 TRILLION in such "hidden" money - denominated in dollars - around the world that some of them only now realize had been a huge part of both 2008 and 2020, and could be for the next one, too.
