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Re: Fractional reserve banking
Alternatives Considered: Worded correctly, it seems obvious that the contract I'd have with such a bank would not represent property violations, and any call to "outlaw" FRB would seem far, far more...
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Re: Fractional reserve banking
z1235: As for which is a bigger threat to free markets, observe the present (global!) outcome after centuries of FracRB (coming in and out of bed with princes), mass delusions, and utter brainwashing....
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Re: Fractional reserve banking
Alternatives Considered: I totally get it if you say "FRB is allowed in a free society, but I'm going to fight like hell to educate people about what it is and how they have better alternatives"....
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This is an outlandish idea but since your name is Alternatives Considered here goes. If currency laws were struck down and I was say... Warren Buffet, I could decide I wanted to make my own...
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Re: Fractional reserve banking
z1235:Fractional money inevitably becomes fiat money. Dillution of property boundaries inevitably erodes freedom.This is the biggest sticking point, and the biggest fault in Austrian economics at the...
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Banking on proper principles: http://www.yamaguchy.com/library/gouge/inq_27.html http://www.yamaguchy.com/library/gouge/inq_27.html William Gouge, A Short History
View ArticleRe: Fractional reserve banking
Can some decipher this post on fractional vs full reserve banking by Steve Keen ? He seems to be trying to say that 100 % reserve banks will also create credit out of thin air. I dont understand his...
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"Can some decipher this post on fractional vs full reserve banking by Steve Keen ? He seems to be trying to say that 100 % reserve banks will also create credit out of thin air. I dont understand his...
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Actually, I think that is perfectly reasonable, and I agree that a free market in currency and banking etc is what is needed... there's a reason states so jealously guard their monopoly on this front....
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The problem as I see it is that economists of all stripes are certain that there is and that there must be a storage of value within money. Money is not a storage of value but a storage of promise....
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I know I should be more diplomatic, but I don't know how to express my frustration. Money is always a future promised value. It is never in stored histroric value. Everyone in this thread and...
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"I don't know how to express my frustration" I think maturity demands that we *don't* express our frustration: the way we feel about things is our business, not everyone else's. Deal with frustration...
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"money and currency. They are not the same thing." I think this is a artificial distinction. "*Money* is a commodity, so of course it's a store of value;" You cannot eat it wear it live in it or...
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