4 ms·
Banks.
by emteycz 5y ago
Banks.
- KptMarchewa 5y agoCurrencies have been existing literally thousands of years more than banks.
- emteycz 5y agoYes indeed - currencies (not monetary systems) based on precious metals, such as the Groschen or Thaler. That doesn't have much in common with the "gold standard" monetary system as it was in the USA. That emerged from a monetary system of private banks that issued their own banknotes. And it has practically nothing in common with the modern quantitative easing monetary system that is orchestrated by public and private banks.