1st Edition

The Incredible Eurodollar Or Why the World's Money System is Collapsing

By W Hogan, Ivor Pearce Copyright 1982
    222 Pages
    by Routledge

    222 Pages
    by Routledge

    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.



    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