Why banking in Nineteenth century America was like crypto right this moment | FT #shorts

In Nineteenth-century America nearly anybody may print their very own cash – and plenty of did. One of probably the most notable figures to take this up was a person named James Brown, a charismatic conman who constructed a fortune producing faux banknotes.⁠
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In this episode of The Story of Money, Stephen Mihm, a professor of historical past on the University of Georgia, introduces hosts Gillian Tett and Robin Wigglesworth to ‘the toughest working man in counterfeiting’. They focus on the parallels between banking within the Wild West and the appearance of cryptocurrencies right this moment, and the position belief performs in all monetary methods.⁠

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