...and for that reason there is no such thing as fractional reserve banking... the deposits are always fully backed with government credit.
At least the banks are democratically accountable.
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- First past the post concentrates political power i...
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- Fractional reserve banking destroys the value of cash
- Deposit insurance is communism
- Democracies are legitimate if they are proportional
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- Central banks enable fractional reserve banking
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About Me
- Geolibertarian
- John Locke, Second Treatise of Government: "No body could think himself injured by the drinking of another man, though he took a good draught, who had a whole river of the same water left him to quench his thirst."
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