Hey, everyone. Welcome back to the What Is Money Show, sitting down again today with Mr. Jeff Snyder.

And we're going to keep working our way through really the history of money, central banking,

and working our way into the euro dollar system today. And this really gets into kind of the murky

edges of modern money, I think, where not many people understand what it is. And even those that do

understand what it is, we don't understand necessarily how big or significant it is. So, I think

we left off getting into the emergence of the Euro dollar system in the 50s and 60s.

So where do we start?

I mean, I know this was maybe not something that was even understood until it was understood

in hindsight, really?

It kind of emerged in the darkness in a way.

Yeah, I think good place to start was the fact, you know, I think we talked about this last

time where a guy by the name of Paul Einzig, who was an economist and a well-known financial

commentator said, you know, he stumbled upon this global dollar market, basically centered

in the city of London

a couple years after it had started.

And all the bankers who were operating in it told begged him, don't write about it.

Don't say anything.

We're making money here.

We got nobody on our backs.

There's no regulation.

There's nothing.

You know, just shut up about it and let us do it.

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