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... ntial conditions were needed: one is having a high reputation, and the other is holding a large amount of goods.

The reputation goes without saying; it is the foundation for issuing currency, while the goods mainly ensure the issued money is useful.

Otherwise, if you distribute paper money and it buys nothing, the currency will quickly become beautifully printed pieces of paper.

The thing Anning issued in Italy had the backing of several large Milanese business associatio ...

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