What is a "bank"? Double entry accounting isn't even that big a thing yet. The closest analogy for the kind of institutions you lot are dealing with is something between a loan shark and a property trust.
A Bank is an institution that holds a reserve, saves money at an interest, and loans money at an interest. Banks conduct money from private citizens to other institutions that protect indivisuals within it called a Corporation through lending. It also pools money from any citizens to lend to other citizens via loans as well, for the citizen to use and to pay back. Banks let a small amount of saving be turned into quite a few crucial loads for quite a few other groups, which will increase wages, productivity, employees, branches or other factors, which will increase money available to citizens, who will buy more stuff or put it in the bank. And so on.
Thankyou captain obvious?
Terrance888 said:He asked a question, I answered it.
Karalysia said:There is also the good old fashioned method of debasing the currency with copper or some nonsense like that and reducing the % of gold, and silver in the coinage. Leads to a nice amount of inflation. A favourite of a whole lot of people, Ottomans come to mind.
The American Revolution was the political upheaval during the last half of the 18th century.. not the 6th
I wish lj would update his fresh start.![]()
God Neses are doomed to fail!
If there were no God NES', it would be necessary for nesers to keep trying to reinvent them.
Or something.
God Neses are doomed to fail!
RPAdvantage said:Large multinational banks have been around since the 6th century, they just didn't always call themselves that.