Was there ever a SGR?
My understanding:
Gold coins > banks as custodians > banks issue notes fully backed > banks issue more notes than coins (fractional reserve) > central bank created as lender of last resort to local banks > local banks to deposit assets at central bank
Alvaro /
npub1dg…c9f3k
2025-05-28 12:18:18
in reply to nevent1q…qzn2
Author Public Key
npub1dgtlzlh72vndt8kuguq2q8uk0732qd92930ywtp7g74cd6l6h2tsqc9f3kPublished at
2025-05-28 12:18:18Event JSON
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