The denationalization of money: the real-world asset (RWA) road to money without banks or inflation
Written by Antony Abell, Co-Founder of TPX™ Property Exchanges in Partnership with Cheyenne Mint (USA).
Denationalized banking is where banks are free to issue their own currency whilst also being subject to no special regulations beyond those applicable to most companies. In a denationalized banking system, the market controls the total quantity of currency and deposits that can be supported by any given stock of assets or fixed amount of currency. Historically, these assets have consisted primarily of either a precious metal (e.g. gold), government bonds or real estate mortgages. In denationalized banking, there is no role at all for a central bank. There is no government agency who can ‘print’ or provide unlimited fiat currency. De-nationalized banking was the standard in the US prior to its civil war. Before the US Civil War, there were almost 1,400 US state-chartered banks in operation with no government insurance for banknotes or bank deposit accounts. Banknotes were denominated in Dollars, not US Dollars, redeemable on demand for gold. Decentralization enabled individual city or …
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