During the Irish bank strike of 1970, all major banks in the country closed for six months, but the economy continued to function perfectly because citizens just started using personal checks cleared by local pub owners.

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During the Irish bank strike of 1970, all major banks in the country closed for six months, but the economy continued to function perfectly because citizens just started using personal checks cleared by local pub owners. Since bartenders inherently knew the financial trustworthiness and drinking habits of everyone in their community, they seamlessly stepped into the role of loan officers and currency validators to keep commerce flowing. It turns out that a nationwide network of men pouring pints of Guinness is actually a more robust and trusted financial infrastructure than giant corporate institutions with vaults and security guards. The fact that an entire modern European nation survived half a year without a single functional bank simply by relying on the unspoken credit scores maintained by local taverns is a hilarious slap in the face to every economist who insists that central banking is necessary for societal survival