Lev Menand
speaker
1,295 appearances
6 recordings
1 series
first heard Jan 2025
last heard 17 Jul
Lev Menand’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 1.
Appearances
Lead
to the ability of Euro dollar issuers to
draw in euro dollar holders when you think about
What a Euro dollar issuer is doing is they're actually selling a product that's their liability.
It's a money instrument that people can hold who have cash, have demand for cash and cash equivalents in large quantities.
And they are competing with domestic US banks that have a really nice product.
the the deposit that is up to two hundred fifty thousand dollars per account insured by the FDIC explicitly.
And a whole bunch of other money like products created by
Other shadow banks, money market mutual funds create various products.
And the swap lines, the existence of the swap lines, is what gives people confidence that, you know, this is a pretty robust money-type instrument that has backing from the sort of central bank, which is the creator of dollars that makes these money-like liabilities, money good.
And so in order to get such a huge
$13 trillion, such a huge market.
You need the swap lines there in the first place to give people confidence to hold large quantities of these, that they will, in fact, be money good.
But
Problem you have.
Is that the extent to which the US government stands behind this $13 trillion money supply?
It's ambiguous.
It's not explicit.
It is like uninsured deposits in the domestic system.
It's worse though, uh, but it's similar to it.
Showing 901–920 of 1,295 · page 46 of 65
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