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We had privately created money in Europe for centuries. It was a disaster.
by jbrun 9y ago
We had privately created money in Europe for centuries. It was a disaster.
- marcosdumay 9y agoIt wasn't too different from the recent ICO stuff. Except that it was mainstream. In other words, I completely agree.
- neonnoodle 9y agoYep, and we had it in the U.S. as well before the advent of the Constitution. Similarly a disaster.
- rphlx 9y agoI would strongly disagree with that characterization. The bank note system - the major form of private money - worked reasonably well for centuries in Europe, evolving into the check clearing systems that virtually every first-world nation has today.
- jbrun 9y agoThat was much later on. I am talking about basically end of Roman Empire to 1600.