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Banks cannot globalize like software companies because banking is tightly bound to national monetary sovereignty.
Drawn from what Byrne Hobart said
What Byrne Hobart actually said
Word for word, with the source under each one. They did not write this page.
Writes The Diff, a newsletter on inflections in finance…
banks can't globalize the way other firms can because the banking system is so close to a form of sovereignty: governments very carefully guard the privilege to create more money, and when they give it out, there are strings attached.
Where this was said
↗Longreads + Open Threadthediff.co
All 3 korrents from this piecethis one is 3rd
Added to korrents 19 Sept 2026 · How quotes work · Something wrong? Tell us
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Our reading — they may agree, disagree or merely touch the same thing. Closest first: a shared subject counts for most, then how near the wording is.