cryptohamster on Nostr: The Finance Franchise is a brilliant paper on how modern finance and money creation ...

The Finance Franchise is a brilliant paper on how modern finance and money creation actually functions.

"From this perspective, the financial system operates essentially as a franchise arrangement in which the public is the franchisor, while the private institutions that dispense its full faith and credit are effectively its franchisees."

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2820176