Comments by "Samson Soturian" (@samsonsoturian6013) on "When Pubs Briefly Replaced Banks" video.

  1. In the Arab world, this sort of informal one-man bank is called a Hawala. The difference is that formalized banking is extremely rare in that part of the world, and Hawalas are one and the same with loan sharks, money launderers, and black market fences.
    62
  2. When people doubt Adam Smith's invisible hand... Just tell them this story.
    57
  3.  @philmckay9973  to sort out malfeasance, yes. He, like all businessmen, wanted minimal regs, though
    6
  4. What could be more Irish than that......
    5
  5. No surprise there. South Africa's cash economy is most ma and pa ventures these days.
    2
  6.  @John-zs8jg  that narrows down where you live considerably. In the West Bank and rich/westernized portions of oil states there are formalized banks. It's also not remotely surprising you didn't know what a hawala is.
    2
  7.  @John-zs8jg  you have a Lebanese surname. In more developed urban areas there's a lot of small banks whose functionality is on a knife's edge. But in rural/poor neighborhoods you can find Hawalas as easily as you can black market guns.
    2