 Dollar Market SatellitesBrendan Brown Chapter 2 in Money Hard and Soft, 1978, pp 32-65 from Palgrave Macmillan Abstract: Abstract The euro-deposit and currency markets form a solar system. Its sun is the US domestic money market. Planets include the euro-Swiss franc, US dollar and West German mark markets. Around each of these in turn satellites revolve. The euro-French franc market is a satellite of the forward dollar-franc currency market. All are under the common pull of the dollar sun which functions like Apollo’s sun chariot. During its night of rest greater independence is possible for some planets and satellites. Order is restored when the clock strikes a certain hour and New York awakens. Such ‘cinderella’ markets are located in different time zones from the US. Independence is usually impossible for dollar markets which are exposed constantly to the sun’s glare. Independent euro-dollar markets compete East-West across the earth not North-South. The division of business between financial centres from East to West occurs naturally. A longitudinal line was not drawn artificially like Pope Alexander VI’s which divided the world between Spain and Portugal. Keywords: Money Market; Foreign Exchange Market; Swiss Franc; Forward Market; Prime Market (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-03659-2_2 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-03659-2_2 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.