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Matthew Me\u017einskis, creator of the Crypto Voices Global Monetary Base project joins the show to discuss how Bitcoin stacks up against sovereign currencies. In this episode:\xa0

• The difference between base money and broad money
• Why Bitcoin should be compared to base money and not the broad money supply
• How exchanges are serving as proto free banks \u2013 and why they might end up becoming transparent fractional reserve institutions
• How free banking actually worked
• Why unrestricted banking activity tends to equilibrate with single digit reserve ratios
• How the Scottish free banking system was stable despite fractional reserve
• How Bitcoin improves upon gold in a free banking system
• The role of Proof of Reserve in a neo free banking system
• The bankruptcy of the Ayr Bank and what it tells us about the Scottish banking system
• Why 'free banking' in the US wasn't really free
• Bitcoin passes the Swiss Franc
• Where Bitcoin stacks up relative to all the major sovereign base monies

Follow Matthew on Twitter and check out the Monetary Base project.\xa0

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