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Before the evil of WWI, the German Reichbank had guidelines for its banks; assets to be 1/3 Gold and 2/3 Bills of Exchange. Keep in mind that 'bills of exchange' are really the Bills, and Real Bills mature into Gold in not additional than 91 those days. If the bank does not actively discount (purchase) new bills, in 91 days its balance sheet assets will be 100% Fantastic. End of problem. To understand liberty, you need to banca30 understand asset. Consider the above paragraph. If there is no protection of property, where is the liber
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