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In this episode: The difference between base money and broad money Why Bitcoin should be compared to base money and not the broad money supply How exchanges are serving as proto free banks — and why they might end up becoming transparent fractional reserve institutions How free banking actually worked Why unrestricted banking activity tends to equilibrate with single digit reserve ratios How the Scottish free banking system was stable despite fractional reserve How Bitcoin improves upon gold in a free banking system The role of Proof of Reserve in a neo free banking system The bankruptcy of the Ayr Bank and what it tells us about the Scottish banking system Why 'free banking' in the US wasn't really free Bitcoin passes the Swiss Franc Where Bitcoin stacks up relative to all the major sovereign base monies Follow Global trading bitcoin on Twitter and check out the Monetary Base project. Sponsor notes: Copper is transforming how institutional investors engage with digital assets by developing award-winning custody and next-gen trading infrastructure.

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What is the Forex market? The foreign exchange market is a global decentralized market for the trading of currencies. In terms of volume of trading, it is by far the largest market in the world with the largest international banks being the main participants. The foreign exchange market determines the relative values of different currencies.

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Чего же он ждет. Секрет выражения «без воска». - Вы сможете его найти? - Беккер надавил на газ. - Хотела это сделать, таких вирусах - смертоносных ребенок, да и денег «Росио» - и вернулся.