WF banker told me today that many banks will fail next week

I'm not a banker but I'd think you'd only see that symbol to denote the Euro currency.

I'm also no expert so anyone feel free to chime in if I'm wrong, but here is an example: Let's say a German company wants to invest USD$100m in a business deal in India. The deal is denominated in USD even though both countries use different currencies. The eurodollar system allows the big banks to tap those numbers in and facilitate the fund exchange electronically without having to move physical currency.

Eurodollar futures are what commodity traders can buy based on what they think the value of the currency will be at the contact completion, i.e. June 2024 or 2025 or whatever. I'm just an armchair money guy but my take on it is you can get a pretty good idea of how "big money players" think the USD value is going to be in the longer term. In fact it was the pricing of those futures contracts that kicked my butt into buying my first home last year because I think the pain we're going through now in the world economy (and specifically in the US) isn't going away any time soon based on what the big guys are betting on

/r/PrepperIntel Thread Parent