🇬🇧Britain and 🇫🇷France were deadly competitors in the 18th century.
🇬🇧 had one big advantage: its prudent governance allowed it to raise cheaper credit.
🇬🇧 understood the value of the #Bitcoin standard...
Discussion
The 🇫🇷French state was famous for currency revaluations, repudiations of debt and other arbitrary actions against debt-holders.
This caused it to pay higher and higher rates on its debt.
🇫🇷France needed a #Bitcoin standard!
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This prudent governance made 🇬🇧 British securities attractive to foreign investors and became an important part of the Amsterdam stock market.
Thus laying the foundation of Anglo-Dutch commercial & financial relationships that last until today.
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