Who Really Controls the Dollar? | Jeff Snider

In this episode of Bankless, hosts Ryan Sean Adams and David Hoffman interview Jeff Snider of Eurodollar University about the Eurodollar market and its implications for the global monetary system. Jeff argues that the Federal Reserve's control over the dollar is limited, with the Eurodollar market playing a more significant role. The conversation explores the history and mechanics of Eurodollars, their relationship to stablecoins, and the potential consequences of their influence on economic growth and monetary policy. Jeff contends that the global economy has been in a state of "silent depression" since 2008 due to the malfunctioning Eurodollar system, leading to reduced labor participation and economic output. Contrary to conventional wisdom, Jeff is bullish on treasuries, arguing that the market is preparing for low interest rates and that concerns about dollar debasement are overblown.