X @Nick Szabo
Nick Szabo·2025-10-17 02:38
Financial Vulnerability - Bank notes increased trust and vulnerability to third parties' actions [1] - Gold was held in centralized vaults, leading to fractional reserve banking (FRB) [1]
Financial Vulnerability - Bank notes increased trust and vulnerability to third parties' actions [1] - Gold was held in centralized vaults, leading to fractional reserve banking (FRB) [1]