Venice had a state bank (the Giro) that used all its deposits to obtain
freedom from the Turks, but thereafter operated a bank using
"money of account" successfully for several hundred years, and kept its value better than gold.
Its operations only ended when Venice was conquered by Napoleon,
who was surprised not to find any treasure in the Bank - only a set of
By contrast, Genoa followed conventional banking, and in the end the State
became so indebted that the Bankers foreclosed and became the government.
Shades of what is beginning to happen in the U.S.A.?
Martin Hattersley, 5929-189 St.,
EDMONTON AB CANADA T6M 2J1
Phone (780) 483-5442
Avec mes meilleures salutations.
François de Siebenthal
In english: http://www.union-ch.com/articles.php?lng=en&pg=267
00 41 21 652 54 83
021 652 55 03
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La femme est, comme toujours, l'avenir de l'homme, et réciproquement. Si qua fata sinant...:-)