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I think you need to read up on the era before central banking, and bank notes. It was chaos. https://www.npr.org/sections/money/2012/12/07/166747693/episode-42
by jonathankoren 7y ago
I think you need to read up on the era before central banking, and bank notes. It was chaos.
https://www.npr.org/sections/money/2012/12/07/166747693/episode-421-the-birth-of-the-dollar-bill https://www.npr.org/sections/money/2012/12/07/166747693/epis...
- abecedarius 7y agoCounterpoint: https://en.wikipedia.org/wiki/Free_banking#Scotland https://en.wikipedia.org/wiki/Free_banking#Scotland
- jonathankoren 7y agoAlso the exception. Ultimately, you have to wonder what problem you're trying to solve from going from a globally recognized stable reserve currency, to something that is synonymous with extreme volatility and fraud.