[Photo Credit](https://www.pexels.com/photo/a-person-holding-a-coin-6781365/)
gmfrens everyone!
Let me suspend for a while my supposed-to-be second article on The Way to Financial Freedom Part 2 and give way to crypto and economics-related content. I decided to do it this way to submit an entry either to the Economics Writer Quest or in the Crypto Writer Quest or to which is more suitable as part of the Zealy campaign. To achieve this, I revisited the articles I published in June of 2022 about the Eurodollar market. In this post, I want to refresh myself on the insights I gleaned from the first chapter of the book, Eurodollars and International Banking, edited by Paolo Savona and George Sutija. Moreover, after giving an overview, I also intend to reintroduce some lessons relevant to the crypto space.
To accomplish the above goal, let me share first what @taskmaster4450 keeps saying about the relationship between the Eurodollar market and cryptocurrency. In fact, outside of Hive and the Leofinance community, I never heard of the Eurodollar market. It was my first time, hearing about the subject as I entered the crypto space in July of 2021. He keeps reminding us that for us to understand the character of cryptocurrency, we should first understand the Eurodollar market that provided its very backdrop.
At the outset, what I found fascinating is that I received a confirmation from the so-called authority figures in international banking that indeed the operation of Eurocurrencies is “outside the jurisdictions of national governments.” This is an insight that I never stumbled upon reading books on economics, of course except the current one under study.
Another startling discovery is the admission that the Eurodollar market is not a separate “banking system,” but an extension of the banking systems of major countries. Hence, the name “international banking” and “offshore banking” have been used to describe this market.
As such, the Eurodollar market plays a significant role in international finance due to the financial innovations it created and its impact “on domestic banking systems, on domestic monetary policies, . . . on inflation, interest rates and the distribution of credit” (p. 43).
Now, how did the Eurodollar market originate?
The birth of the Eurodollar market was associated with a certain “Dregasovitch” (p. 27) and its earlier names were diverse such as “Embark dollars,” “Continental dollars,” or simply “foreign market dollars” (ibid.). The first transaction happened in 1957 when Moscow Narodny Bank issued an $800,000 loan through a London commercial bank (ibid.). As such, in that year, “a new and original, international money market in short-term dollars and other currencies emerged in London” (p. 28).
A few of the unique features of the Eurodollar market include interbank huge transactions, basically unregulated, and “receives funds from everywhere to make loans to everywhere” (p.32). The clients involved in the market are commercial banks, central banks, transnational corporations, and some very wealthy individuals. Reserve requirements are not strictly implemented, which logically results in the expansion of loans. Transactions are secret and taxes are lax.
For Rene P. Higonnet, the presenter of the first paper, the above qualities spell huge problems. He identified the Eurodollar market as primarily responsible for the existing crisis in international finance due to the absence of accurate information, easing of strict banking practices, impulsive and unsound banking policies, and evasion of responsibility on the part of central banks.
To address the problems caused by the Eurodollar system, the proposal is to come up with a stricter form of regulation and supervision of Euro banks. Such a proposal entails better accounting practices, regulation of foreign lending, and supervision of all offshore banking centers. The responsibility to implement such a proposal will fall into the hands of an international committee of wise men selected from central bankers, commercial bankers, and economists (p. 43).
And so that’s the overview of the article I published in June of 2022.
Let us now turn to the lessons we can learn based on the foregoing information that is relevant to the crypto space, and I just want to mention three:
First, we learn from reading such a brief background of the Eurodollar market that it is indeed outside of national jurisdiction and unregulated. Cryptocurrency is simply following such a path. The identified characteristics are shared by both the Eurodollar market and cryptocurrency.
Currently, we now see nations that are pro-crypto and nations that are anti-crypto. The main issue is regulation.
As the record shows, national governments failed in implementing this task to regulate the Eurodollar market for 65 years. Will they be successful this time in regulating cryptocurrency? What do you think?
As far as authorities on international finance are concerned, what we know is that the pro-regulation group is in the minority, at least as far as the Eurodollar market is concerned.
The second insight has something to do with the importance of the Eurodollar market in international finance. Many of the features found in the Eurodollar market can also be seen in cryptocurrency. In the current status of the latter, we admit that in terms of size, the crypto market is still very small compared to other financial markets. Nevertheless, in the area of innovation and distribution, I think cryptocurrency deserves credit. As to its long-term influence on both national and international banking, monetary policies, and inflation, we still have to wait and see.
Last but not least is the difference and resemblance between the two regarding stability and volatility respecting fiat currency. Even advocates of cryptocurrency are divided concerning this issue. Some think that the explosive growth happening in cryptocurrency is a threat to destabilizing the world of legacy finance. Others opine that such growth is insignificant due to the gigantic size of traditional finance. From my perspective, I see it as a threat and that’s why the regulation voice is getting louder but I firmly believe that from a long-term standpoint, cryptocurrency will introduce abundance into the global economy. The only difference is that it will no longer be exclusionary just as what we have right now.
Grace and peace!
What is LeoFinance?
What is Hive?

Either way I think the big banks and corporations are behind it… unless there is a comet impact they won’t tell about… but they prepped us with that ridicolus DiCaprio movie …
So major familjer of electric grid maybe now when all are so dependant of it. Most probably in the winter, when we all need it the most. All the evidence is clear they want to kill people on the planet. Book Of Rome’s manifesto from 1974. Bill Gates dad, Georgia monument they tried to sweep under the carpet. Ukraine, vaccines and so on… https://www.instagram.com/p/Csj0Ma3Sz1o/?igshid=NTc4MTIwNjQ2YQ==

It is no surprise that the central banks are vehemently denying these new revelations. In the meantime, there is at least one more shoe to drop in this unfolding investigation.

River Niger



The River Niger holds great economic importance for the countries it flows through. Let's explore some of the reasons why the river is significant for the economy:

### 1. Transportation:
The River Niger serves as a major transportation route for goods and people. It allows for the movement of goods such as agricultural products, minerals, and manufactured goods. This helps connect different regions and facilitates trade and commerce between cities and countries along its banks. Barges and boats are used to transport goods, reducing the reliance on costly road or rail infrastructure.

### 2. Irrigation and Agriculture:
The water from the River Niger is essential for irrigation purposes. It provides a reliable water source for farmers to irrigate their crops, particularly during dry seasons. Irrigation allows farmers to grow a variety of crops and increase agricultural productivity, leading to economic growth and food security. The fertile soil near the riverbanks also supports farming activities and sustains livelihoods.

### 3. Hydropower Generation:
The River Niger is harnessed for hydroelectric power generation. Dams and reservoirs are built along the river to capture its water and convert the energy into electricity. Hydropower is a clean and renewable energy source, and it helps meet the increasing energy demands of industries, businesses, and households. Access to affordable and reliable electricity is crucial for economic development, industrial growth, and improving the quality of life.

### 4. Fishing and Aquaculture:
The River Niger supports a thriving fishing industry. Its waters are home to a diverse range of fish species, including catfish, tilapia, and Nile perch. Fishing provides employment and a source of income for many communities along the river. Additionally, fish farming or aquaculture has gained prominence, where fish are bred and raised in controlled environments, contributing to the economy and meeting the demand for fish products.


### 5. Natural Resources:
The Niger Delta, located at the mouth of the River Niger in Nigeria, is rich in oil and gas reserves. Oil extraction and production activities in the region significantly contribute to the economy of Nigeria, as oil exports form a substantial portion of the country's revenue. The river also supports other natural resources such as minerals, including gold and limestone, which can be extracted and utilized for economic purposes.

### Conclusion
Overall, the River Niger plays a crucial role in driving economic activities, supporting livelihoods, and fostering development in the countries it flows through. Its contributions to transportation, agriculture, energy generation, fishing, and natural resource exploitation make it an invaluable asset for the economic growth and prosperity of the region.


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Area view of the 1st River Niger bridge in Onitsha

## What is a River?
A river can be defined as a big, flowing body of water that usually starts from a high place like a mountain and makes its way down to a lower place like a lake or an ocean.

## The River Niger
The River Niger is a very important river in Africa. It is one of the longest rivers on the continent and it flows through several countries, including Guinea, Mali, Niger, Nigeria, and Benin. It starts in the mountains of Guinea and travels for about 4,180 kilometers (2,600 miles) before reaching the Atlantic Ocean.

The River Niger is not just a source of water, but it also plays a vital role in the lives of the people who live along its banks. It provides water for drinking, farming, and fishing. Many villages and cities are built near the river because it gives people a source of water and helps them grow crops.

Area view of the 2nd River Niger bridge in Onitsha

The river is also home to many different types of animals and plants. You can find animals like crocodiles, hippos, and different kinds of fish in the River Niger. People use the river for transportation too. They can use boats to travel from one place to another, especially in areas where there are no roads.

One of the most famous landmarks along the River Niger is the Niger River Delta in Nigeria. It's a very important and diverse ecosystem with mangroves, swamps, and a lot of wildlife. The Niger Delta is also known for its oil reserves, which are important for the economy of Nigeria.

## Conclusion
So, the River Niger is not just a river, it's like a lifeline for the people and animals that depend on it. It provides water, food, transportation, and a home for many different living things. It's a fascinating, intriguing and important part of Africa's natural environment.


@eberechi is my name

It is quite evident that the maintenance of forests and riverbanks and the prevention of erosion are essential given the alarmingly high rates of deforestation and land use change. Due to climate change, extreme weather events such as hurricanes, fires, and droughts will become more frequent and intense.

Banks in Nigeria have been given 30 days to close accounts that have not been linked to a biometric Bank Verification Number (BVN), The Nation reports.

Banks have spent the past week or so testing a cunning plan to push more losses on to the US taxpayer.

️Bitcoin is better than the dollar if the U.S. defaults

Bloomberg conducted a poll on how you would save your money if a US default became a reality. Most standardly chose gold, but 2nd and 3rd place showed an interesting result

Buying bonds of a country in default is extremely risky, but there is confidence that the default will be short-lived and purely technical. That's why many decided to buy Treasury securities at a discount

Bitcoin came in third place, overtaking the dollar due to the interest of retail investors. The first cryptocurrency showed its protective properties during the collapse of banks, and the default is of a similar nature

#somee#bitcoin#cryptocurrency#

Fractional-reserve banking and monetary policy have fueled a 70% revolt against the dollar - meaning, 70% of the globe's citizens, through international transactions and now central banks, are looking for an exit. #gold

722 banks reported unrealised losses exceeding 50% of their capital - US FED.

#somee
#capital
#bitcoin
#crypto

Shares in US regional banks bounced back on Friday, although concerns about the health of the sector have left investors nursing steep losses for the week. https://www.theguardian.com/business/2023/may/05/us-banking-crisis-risks-becoming-self-fulfilling-prophecy-analysts-say

Jerome Powell fed chairman on economic outlook we can't save economy, maybe we should be projecting more banks collapse in coming months, there are speculation that only few banks will be remaining which will force people into accepting CBDC'S means of payment, the Fed's can't save economy. #btc is the future.

#awesme #somee #crypto #social #inflation

[Image source](https://www.instagram.com/p/CrzWA5UNExs/?igshid=YmMyMTA2M2Y=)

They actually did it. Even though banks are collapsing, the commercial real-estate market is imploding, home sales are plunging, and large companies are laying off workers, the Fed decided to raise interest rates again.