I think Jeff is a doomer.

But he sure explains eurodollars well. Surely @edicted is missing some nuance re:

So the real reason why the USD is the world reserve is because of the Eurodollar ledger system. Didn't see that one coming! Somebody else put us in charge... largely by accident.

Oh whoops! We corrupted a young republic into a war hegemon, what a happy accident!

Good work though because none of this will change your conclusion.