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Only Individuals Engage in Action | The Twilight of Gold Series | Episode 9 (WiM174)
The "What is Money?" Show
The Bank of England and the Bank of London and Westminster Bank
19 14 brought a cruel end to the gold standard, but it may have end on its own due to simmering tensions within the banking complex. The basic contradiction in the system was re emphasized. A central bank was being made to perform public functions at a cost which it had to recoup and supplement with profit derived from private commercial banking operations. But those operations were in competition with the very intermediaries it was supposed to control joint stock banks soon withdrew their support. So i think it's very difficult to run a central bank.
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