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I have been looking around on this site for an answer to such a question, but I cannot a definite one. By time deposit I mean this: The depositor puts $100 in the bank, but cannot touch it for say 5 years. During that period, the bank loans out the $100. After 5 years, assuming the bank did not make...
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Lets suppose the government outlaws fractional reserve banking, but keeps our current fiat currency system the same. Can a Full Reserve Banking System co-exist with a fiat monetary system? What would be likely consequences of such changes?