I can’t disentangle that question. sorry. The financial system prior to fiat currency makes use of (is insured by) private funds. With fiat currency it makes use of (is insured by) public funds. But in both cases rent seeking constitutes the majority of investments.
Source date (UTC): 2023-01-23 01:31:42 UTC
Original post: https://twitter.com/i/web/status/1617334223827861504
Reply addressees: @ScottClaremonty
Replying to: https://twitter.com/i/web/status/1617333501711507458
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