Tom Bilyeu

To answer that question, we have to go somewhere most people never go.

Into the part of the global financial system that's largely invisible.

The part with no government backstop.

the part that runs on nothing but trust.

Looking at this area kind of freaked me out, I'm gonna be really honest with you, because once you understand it, you understand why what's happening right now is a lot more serious than just a bad week for gold, and it's going to persist

even long after we exit Iran.

Welcome to part two, the hidden engine that runs the entire economic world.

The global foreign exchange market processes $9.6 trillion in transactions every single day

and yet most people have never even heard of it.

And 89% of those transactions have US dollars on one side of the exchange.

That number is so large it barely feels real and it's happening every day.

For context, the entire US economy, every dollar of goods and services produced in a year is only about 30 trillion dollars.

The FX market moves a third of that every day.

And yet, the Federal Reserve has no direct authority over the vast majority of it.

It's an absolutely staggeringly large pool of US dollars.

And to understand why that matters and why it's directly connected to what just happened to gold, you need to understand the entire Eurodollar system and how it actually functions.

The Eurodollar is not a separate currency and it has nothing to do with Europe.

It is an extremely misleading name that confuses an otherwise relatively simple concept.

A Eurodollar is simply a US dollar that exists outside of the United States, is held in foreign banks, used to fund global trade,

and it operates almost entirely outside of the reach of the Federal Reserve.