Some USD are more equal than other USD

I just want to share a brilliant chart by BitShares CEO Daniel Larimer:

In the above, Mt. Gox still existed and BitStamp apparently was based in Slovenia. I guess they were the only or the 2 major exchanges at the time?

This really sheds light on 3 of the main forms of value we can hold at the time, and their differences. Paper IOUs, IOUs of IOUs in the bank, and IOUs for value stored in cryptocurrencies in exchanges...