193 - Lyn Alden's Masterclass On Money
Bankless
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The Fragile Foundations of Banking
This chapter explores the vulnerability of the banking system, particularly through fractional reserve banking and historical crises like World War I. It discusses the transition from gold as currency to paper money, emphasizing the trade-offs and trust issues involved in financial systems. The chapter also examines the evolution of banking from its beginnings along the Silk Road to modern implications, highlighting the risks and limitations inherent in both commodity and fiat currencies.
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