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...

A highly readable account of the collision between sovereign states and global economic forces for the control of money. Throughout the ages money was a prerogative of national sovereignty and currency management was the responsibility of governments. Bretton Woods provided the post-war framework for intergovernmental monetary cooperation until the banking community, using the Eurodollar as an international medium of exchange, forced governments to adopt a regime of floating rates in the 1970s. The book describes the development of the Eurodollar market and the consequences for world finance...