The business of banking in Europe in the fourteenth century function was to evaluate, exchange, and safeguard people’s coins. In the beginning, there were notable examples of totally honest banks which operated with remarkable efficiency considering the vast variety of coinage they handled. Honest banks These first banks also issued paper receipts which were so dependable they freely circulated as money and cheated no one in the process. As these things go honesty never last long. The last two honorable … Continue reading The puppetmasters of debt