One of my favorite little bits of history is the BIS Annual Report from 1964 which is one of the first official mentions of the Eurodollar market. While it may have initially sprung out of a US balance of payments deficit, it quickly became a profitable business for lenders and borrowers alike and the market grew from it's own momentum. The market CHOSE this outcome. https://www.bis.org/publ/arpdf/archive/ar1964_en.pdf(𝐓𝐗𝐌𝐂)