Hello, welcome to this new episode of Real Politics. I am your host, Firas Modad. I'm very lucky today to be

joined by Albert Marco. He is an expert on financial markets, geopolitics, American politics,

and a lot of other topics. Albert, thank you so much for joining us. How are you? Good, good. Thanks for

hosting me. My pleasure. My pleasure.

I thought I'd benefit from your expertise and start by asking you a little bit about the Eurodollar

system and how it works. Everybody's still stuck in the Petro dollar, but that's from a long gone era.

So maybe help us understand a little bit the Euro dollar, how it works,

and what it means for politics and international relations.

Well, like you said, the Petro Dollar is more of a relic than anything else nowadays.

Whereas now the Euro dollar has surpassed the importance of what the

petro dollar was in the 70s.

It is literally it is the blood of the system of how the financial markets and the currency

markets actually functioned.

I mean, for instance, if Sweden and Japan wanted to do trade, an interactive trade, well,

it's not a simple where Sweden sends Krona to Japan or Japan sets yen to Sweden and then it gets

exchanged.

There has to be a basis and a route for those, for that financial

for that financial settlement to actually work. And that, that only happens when the dollar

is introduced as a basis. So you have yen converted to dollars at the New York Fed. From the New York

Fed, they transmit those dollars to the Swedish,

where the Swedish get their amount of settlement that they agreed on. See, a lot of people

don't understand that without a U.S. dollar somewhere into the system, that currencies do not

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