3 ms·
> Deposit insurance is a fundamental difference between bank IOUs and non-bank IOUs. Yes, but that is relatively recent development. Bank money (and IOU-based
by zajio1am 6y ago
> Deposit insurance is a fundamental difference between bank IOUs and non-bank IOUs.
Yes, but that is relatively recent development. Bank money (and IOU-based money creation) is much older than deposit insurance.