Comments by "" (@TheHuxleyAgnostic) on "Libertarian Debate Goes Back To Coconut Island" video.

Yeah, they don't seem to grasp how anything works. Banks all doing their own bank notes didn't work well outside of local trade. They only had full redeemable value at the issuing bank. So, a bank in Montreal wouldn't take a note from a bank in Halifax, at least not at full value. Because, they'd have to take it to Halifax, to redeem it for actual currency (British pound). There's also the case of mining companies building their own little towns, and issuing their own currency to workers, as pay. Those workers then couldn't use the currency anywhere else, except the mining company shops. It allowed them to fully monopolize their workers.
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