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.

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Recordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 1.

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Odd Lots · Lots More with Lev Menand on the Eurodollar Market Now · 17 Jan 2025 podcast

Is there is no congruence, and in fact there can be race to the bottom dynamics.

And even worse, right now.

There's so much opacity.

You know, I said $13 trillion, but we don't really know the figure because there's no systematized reporting.

In the US, all of the banks file reports quarterly with their balance sheet information.

And we can track the amount of dollar deposits.

We actually cannot track the amount of deposit-like liabilities being created offshore because they're

is no international agreement by which that information is reported to US authorities.

And that would seem to me to be like low-hanging fruit.

You don't have to get rid of the ability of banks in Japan and Europe to create dollars.

Why don't we just make them tell us how many they're creating and just some information about the assets on the other side of those balance sheets?

mean you it it does.

it's it's definitely that's conventional wisdom.

there's nothing wrong with

I'm I'm

I think you're asking a very important question and

I want to try to unpack it a little bit because what I was calling conventional wisdom, I think jumbles up a lot of issues.

And it's understandable that they get jumbled up, but really to explain what the stakes are of the Basel Four type of response I was just describing, we really have to unjumble

So there's first there's the role of the dollar as a reserve currency.

This is really quite distinct from Euro dollars, which are the creation of US m dollar money offshore by offshore financial institutions.

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