1st Edition
The Incredible Eurodollar Or Why the World's Money System is Collapsing
This book addresses the impact of the vast international debt on the position and volatility of the Eurodollar and provides a unique insight into the economics surrounding the Eurodollar. It is intended for those working or studying in the fields of business and economics.
Acknowledgements
Preface
1. The Eurodollar Introduced
i) An inevitable Improbability
ii) The Market
iii) What is New?
iv) Inflation and the Eurodollar
v) Exchange Rates and the Eurodollar
vi) The Eurodollar Market and Risk
vii) How much Debt is Tolerable
viii) Who is Liable?
ix) Is the System Understood?
x) The Heart of the Matter
2. Why it all Happened
i) Balance of Trade Identities
ii) The Balance of Payments in the Past
iii) The Balance of Payments in the Mid-Twentieth Century
iv) A Multiple ‘Equilibrium’ Diagram
v) Multiple ‘Equilibrium’ – World Markets Cleared
vi) Multiple Equilibrium and the Market Mechanism – Excess Consumption by Forgery
vii) The Rise and Fall of the International Monetary Fund Reference
3. The Chronicles of the Planet HTRAE
i) Htrae
ii) The Beginnings of the Namyac-Bal Market
iii) The Stock Money in Defcitia
iv) The Astonishing Expansion of the N.B. Market
v) Was the N.B Market Inflammatory
vi) The Role of Balancia in the N.B. Market
vii) Controlling National Money Supplies
viii) The First Great Crisis on Htrae
ix) Aftermath
x) The End of the First Crisis
xi) The Final Collapse
xii) Diagnosis
4. Eurofinancing in Practice
i) The Beginnings
ii) Necessary Distinctions
iii) Market Growth
iv) Market Structures
v) Sources of Finance
5. Market Instability: Risk and Speculation
i) Eurodollar Market Efficiency
ii) Elements of Risk
iii) Experience with Risk
iv) General Features of Risk
v) Exchange Rates
vi) Eurocurrencies and Market Behavior
vii) Dollar-Deutschmark Exchanges
viii) A Final Comment
6. Some Euromarket Folklore
i) An Official View
ii) Domestic Monetary Management
iii) US Reserve Requirements Proposals
iv) A Challenge to National Sovereignty
v) The Euromarket and Lenders of the Last Resort
vi) The European Approach
7. Prognosis and Prescription
i) What of the Future?
ii) Atrophy
iii) Or Dramatic Collapse
iv) Overhang?
v) Special Drawing Rights (SDRs) in Lieu of Overhang?
vi) Repudiation of Debt
vii) Prescription
8. Up-date and Commentary 1983
i) The Story Continuted
ii) Soothing Words
iii) A Statistical Illustion?
iv) Financial Intermediation
v) Rescheduling for ever
vi) Supervision and Control
vii) SDRs and ECUs
viii) The Last Word
9. Up-date and Comentary 1984
i) Growth of Debt to 1983
ii) Eurobonds
iii) Conventional Wisdom 1984
iv) Unstable Exchange Rates – A Monetary Phenomenon
v) International Debt Transactions
vi) Debt and the Dollar Exchange Ratio
vii) Only One Message
viii) False Money
ix) A Standard of Value
x) Securing Convertible Money
xi) International Debt with Sound Money
xii) Proper Money and Exchange Rates
xiii) How to Deal with Existing Debt