Comments by "gwho" (@gwho) on "The History of Paper Money - Working out the Kinks - Extra History - Part 5" video.

  1. The problem of many types of bank notes is a temporary one. Over time they would have had reciprocity agreements so there is more acceptable of currencies in different areas. And over time, reputable ones will trickle up, do better, buy out other ones. They like how it is today now because there is a huge barrier to becoming a bank, and thus low competition keeps their cushy position more secure.
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