The global marketplace is thriving; trillions of dollars trade hands each business day. And yet the way money works is shrouded in mystery for the majority of us. Who controls money? What governs the way money is handled?
In the 1950s, the nature of international banking changed through the creation of the Euromarket. The Power of Money tells the story of this development from the Bretton Woods system to the floating rates of the Euromarket.
In his explanation of the rise of the Eurodollar, Armand Van Dormael carefully considers the events of history during the twentieth century. The Treaty of Versailles, the Stock Market crash of 1929, America's growing role in European affairs, and the establishment of the European Monetary System are just a few of the issues addressed in this book. These events are presented from an economic perspective.
Van Dormael analyzes the current economic situation of the Eurodollar and its effect on the rest of the world, and discusses the history of the Euromarket in light of today's economic environment.
