Tim Bouma on Nostr: Remember, central banks were created primarily to raise funds for war, not to ...

Remember, central banks were created primarily to raise funds for war, not to facilitate trade.

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The Bank of England was founded in 1694. It was established to raise funds for England’s war against France and was granted a royal charter by King William III. The bank played a crucial role in stabilizing England’s financial system and later became the model for central banking.