Eleven years apparently isn’t near enough. For the occasion of yet another year passing since August 9, 2007, and nothing much having been done about it, in partnership with MacroVoices I published a second series of Eurodollar University. Whereas Season One focused on the history and buildup of shadow money, where it came from and why, Season Two moved on to the big break eleven August’s ago.

The big problem is that what happened back then isn’t merely trivia. The consequences of the systemic break remain with us, unfortunately. EDU 2 was put together to really go into detail about why that was; what was it about August 9 and the aftermath that put us on a one-way street to constant dysfunction. In other words, why wasn’t August 9 just the start of temporary deviation, how could it have been what sure today seems like a permanent departure?

Accompanying EDU 2 was a conference in Toronto, fittingly one of the eurodollar system’s first offshore money centers. Where EDU 2 sort of left off with the systemic break, in my live speech I took it a step further and brought it up to 2018. We are merely repeating the past, and because we are there is no alternate path to reform. Without reform, there can’t be actual rather than this imagined recovery. 

What do I mean by hierarchy? Why do we care? What are the consequences for the intermittent absence of it? MacroVoices has made my speech and presentation available as a promotional version for the entire conference.  You can watch it in full, free of charge, here. Should you wish to see the other presentations, as well as the townhall session, you can do so by making a $50 donation to MacroVoices here.