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

Reply to this note

Please Login to reply.

Discussion

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.

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