"The taking of imaginative forms of collateral has a history which predates central banking: in the 12th century, King Baldwin II of Jerusalem secured a loan using his beard as collateral. Nonetheless, recent efforts are probably unprecedented in scope."
BANKING ON THE STATE
Piergiorgio Alessandri & Andrew G Haldane
Bank of England
November 2009
http://www.bankofengland.co.uk/publications/speeches/2009/speech409.pdf
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