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A Swedish financial institution issued paper money in 1661, but they finally flooded the market with it, and it lost its value. The only reason a greenback, or a franc, or a Euro has any value is because we have now a stable system during which individuals are identified to accept these pieces of paper in return for something precious. This system eradicated the need for the large denominations that were printed previous to the struggle to facilitate these giant-scale transfers. That meant that individuals had accumulated massive paper assets, and that official costs and wages didn't reflect reality, as…