The Soviet Union, fearing US confiscation of their dollar holdings, approached London banks in the 1950s requesting they hold dollars outside the US banking system, initiating the eurodollar market with a wink-wink deal between London banks and the Bank of England.
factualpending
Speaker
Mel MadisonEvidence Quote
“the Soviet Union actually was afraid that, you know, the United States could essentially confiscate their dollars... And they went to a London bank in the 1950s... And a kind of wink wink nudge nudge deal was made between the London banks and the Bank of England”
Source
Asset Bubble Crescendo Until 2027 Collapse When U.S. Treasury Market Implodes, Argues Mel Mattison— Forward GuidanceCreated: 8/12/2026, 6:43:41 PM
My Notes
Loading notes...