Loaning out a gold-backed currency isn't loaning out gold.
You seem to be confusing "1 pound of gold" with "a piece of paper saying that bank X will trade this for 1 pound of gold".
The two are not the same.
You seem to be confusing "1 pound of gold" with "a piece of paper saying that bank X will trade this for 1 pound of gold".
The two are not the same.
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