Ep. 100: Yes, Stablecoins are Like "Free Banking" in US History—and That's a Good Thing
InFi: the Future of Finance
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Historical Insights on Free Banking
This chapter explores the dynamics of reserves in banking through the lens of historical free banking practices, focusing on the era from 1845 to 1858. It examines the distinctions between actual and fractional reserves, critiques regulatory measures, and analyzes the consequences of wildcat banking, particularly in Michigan. The discussion emphasizes the potential benefits of a market-driven banking approach and the emergence of stablecoins as a modern financial innovation.
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