@pmarca I think I've seen it mentioned in multiple robber baron era books. Vanderbilt bio, Lind's land of promise...
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@prchovanec@pmarca Gold is "horizontal" in a macro sense. Scrips have more "vertical" liquidity within a sector and adjacent ones.
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@vgr@prchovanec@pmarca Gold is a scrip if it has the face of a powerful leader struck on one side of the coin; else it is a commodity.Thanks. Twitter will use this to make your timeline better. UndoUndo
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