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“So Eurodollars were in one sense dollars like any other, but in another sense they were different because they had escaped into a market outside government control, where they could behave freely. It’s a bit like taking someone from their family home in the suburbs to a wild part of town and offering them whisky and cocaine. They are the same person but also different – more fun but also more irresponsible.” — Nicholas Shaxson
So Eurodollars were in one sense dollars like any other, but in another sense they were different because they had escaped into a market outside government control, where they could behave freely. It’s a bit like taking someone from their family home in the suburbs to a wild part of town and offering them whisky and cocaine. They are the same person but also different – more fun but also more irresponsible.