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by jordanb
90 days ago
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Specifically the Eurodollar is the main reason for the City of London to exist. Eurodollars are US dollar deposits at European banks. Originally these were used as a way to give the Soviet Union access to the dollar markets through French banks, but eventually it became a way for basically anyone to participate in dollar exchange who can't have a US bank account. https://en.wikipedia.org/wiki/Eurodollar |
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