The third stage of negotiability requires the existence of large and widely recognized institutions, otherwise merchants would not accept these bank notes.

causalpending

Speaker

Len Alden

Evidence Quote

this third form relies on the existence of large and widely recognized Institution otherwise Merchants would not accept these Bank notes

Source

How Money & Banking Work (& why they're broken today) - Lyn AldenLyn Alden Media
Created: 8/12/2026, 2:29:46 AM

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