Daniel Lakeland on Nostr: Commodity money (ie. gold or silver or whatever) needed banks because you needed a ...

Commodity money (ie. gold or silver or whatever) needed banks because you needed a fucking fortress to actually keep people from running away with the gold bars. But we don't need that anymore with fiat money. Fiat money is *money* not *something as money* it's just serving the money function, and the bank vault is largely pointless, the function that banks serve is pretty much *third party accountants*. They're also serving this outdated function of "deciding who to loan to".