Monday, 28 February 2011

Fractional-reserve banking is not real banking it is pseudo banking

If a bank has reloaned customer deposits it has performed a deception to their customers because it is no longer solvent, as it purports to be. If many more claims now exist on the money that we have given to the bank we have been defrauded. If someone is able to reloan many times a customer deposit they should not then be able to describe themselves as a bank, they have simply inflated the receipt. The banks have deceived people if many more receipts are issued for the same item. Banking is fraud if people do not understand that their deposits have been inflated, and the practice should not then have the name of banking.

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