Quote from: MPOE-PR on June 22, 2013, 04:18:38 PM

The linked article is uniquely ignorant. There is such a thing as Eurodollars, which is a topic ignoramuses such as the people signing "opinions" for the Bitcoin Foundation scam are well advised to read up on.

Yes, but I think Eurodollar deposits are generally largely backed by the deposit taker in turn holding dollars at a US bank, no? (Of course, in many cases the US bank will actually be the US branch of the same bank.)

Foreign banks don't have direct access to the Federal Reserve System, and hiding wads of dollar bills ~~under the mattress~~ in a bank vault is so 19th century.

In any case, from what I've read international wire transfers are normally settled via correspondent banks in the country which issues the currency. I'm sure there are exceptions, but you should generally assume that a USD transfer will go via one or two US banks unless you have information to the contrary.