New to EconBites? This page is your map. Everything on this blog connects back to one idea: the global financial system is driven by a vast, largely invisible dollar market that most economists — and almost all central bankers — underestimate. It’s called the eurodollar system, and once you understand it, markets start making a lot more sense.
Work through the posts below in order. Each one builds on the last.
Step 1 — Understand the Foundation
Start here. This post explains what the eurodollar system actually is, why it exists, and why it matters more than anything the Federal Reserve does.
➡ The Eurodollar System Explained: How It Shapes Our World
Step 2 — Rethink the Fed
Most people assume the Federal Reserve controls the global dollar. It doesn’t. This post explains who actually does — and why that changes everything about how you read monetary policy news.
➡ Federal Reserve vs the Eurodollar Market: Who’s Really in Control?
Step 3 — See It in Action
Theory is useful. Real-world examples are better. These posts show the eurodollar system at work in current events — currency crises, credit markets tightening, consumer data the Fed ignores.
- ➡ Oil Shock, Dollar Shock: Why Asia’s Currency Crisis Is a Eurodollar Story
- ➡ Banks Are Quietly Cutting Off Private Credit — And Insurance Companies Are Next
- ➡ Target Throws in the Towel: What Falling Consumer Incomes Tell Us the Fed Won’t
Step 4 — Watch the Warning Signs
Once you have the framework, you start seeing signals everywhere. These posts apply the eurodollar lens to China, global bond markets, and broader macro conditions.
- ➡ China’s Bond Market Is Screaming a Warning the Stock Market Is Ignoring
- ➡ Economic Reality Check: Markets Confront Renewed Growth Concerns
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