A clear and concise definition of money: http://www.reddit.com/r/finance/comments/utf5u/where_has_all_the_money_in_the_world_gone/c4yg5it?context=3 …
@zspencer turns out that's not at all how currency developed basically anywhere
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@steveklabnik The reedit link was not a history. More a parable on to why fractional reserve banking makes sense. -
@zspencer right but if the foundation of the parable doesn't reflect real life, then it loses most of its meaning. - Show replies
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