# IOUs

**Published by:** [Susan](https://paragraph.com/@susan-27/)
**Published on:** 2022-07-29
**URL:** https://paragraph.com/@susan-27/ious

## Content

The more reputable a private agent is, the more liquid his IOUs will be. However, only close business partners can rate the reputation of an agent, which makes the liquidity of commercial bills pretty constrained.

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