What are Eurodollars? - Eurodollar system explained

Eurodollars are essentially, all those dollar deposits outside of the US banking system. Banks registered abroad can create offshore US dollar loans and derivatives.
This creates US dollar-liabilities, but these Banks registered outside USA don’t have the ability to issue base money.
Only the Federal Reserve has that Power.  Eurodollars are accounting entries. Electronic payment system.
It’s estimated over 90% of international trade is financed through the eurodollar market.
It’s also worth pointing out that the Eurodollar market is almost entirely a cashless market. It is for simplicity sake, banks balance sheets. Eurodollars are simple promises of payment.
After world war II Europe was economically weak and the effects of the war debasteted the economy.
The United States provided funds through the Marshall Plan to rebuild Europe.
US Banks started to proliferate Outside US jurisdiction and this led to wide injection of US dollars Offshore providing liquidity
In consequence it surge a development of a separate, less regulated market for the deposit of those funds that has not changed that much.
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Eurodollar explained simple
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0:00 intro
0:18 What is the eurodollar?
1:25 How the Eurodollar market works
2:21 Eurodollars regulatory framework and origin
3:35 Why there is a high demand of US dollars? - US dollar demand