Replying to Avatar π•Ύπ–Šπ–— π•Ύπ–‘π–Šπ–Šπ–•π–ž

I can’t seem to wrap my head around most.. maybe you’re talking about the beginning of fractional reserve banking and not the beginning of fiat which I could def understand what you mean then n agree for sure
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AncapAnon - Activate OP_GFY now! 1y ago

Yes, fractional reserve banking (bank notes and deposits) is the start. Before that, all that the state could do was coin clipping, which didn’t last long.

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π•Ύπ–Šπ–— π•Ύπ–‘π–Šπ–Šπ–•π–ž 1y ago

Then forsure I definitely agree, thank you for the awesome convo btw