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From:
Monetary Mechanics
(Uncensored)
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Issue #55: The 1974 Failure of Bankhaus Herstatt and the Rise of Real-Time Gross Settlement (RTGS)
https://maroonmacro.substack.com/p/issue-55-the-1974-failure-of-bankhaus
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On a daily basis, trillions of dollars flow between financial market participants in securities, derivatives, and foreign exchange contracts.
