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After a second layer of money emerged, governments moved to take control of the pivotal position between the first and second layers. In the seventeenth and eighteenth centuries, the Bank of Amsterdam and Bank of England inserted themselves into the money pyramid, giving their governments unprecedented power over the peoples' monetary affairs. By mandating the use of their own second- layer monies, governments and their new central bank charters removed the ability for people to have freedom ...

We've covered governmental, proprietary, and internal service funds. The final type of fund you'll see on a government's financial statements is fiduciary funds. _Fiduciary funds_ account for resources held for the benefit of parties outside of the reporting government. Fiduciary funds are not reported in the government-wide financial statements because the resources of those funds are not available to support the government's own programs. Most fiduciary funds relate to retiree benefits (i.e...