Look back at how things were financed in the early 1900s in Western Europe on a gold(ish) standard. Ventures were financed mostly with debt.
Discussion
Yes, because the banks were doing fractional reserve lending on the gold. Gold(ish), as you said.
Look back at how things were financed in the early 1900s in Western Europe on a gold(ish) standard. Ventures were financed mostly with debt.
Yes, because the banks were doing fractional reserve lending on the gold. Gold(ish), as you said.