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Was Rothbard opposed to fractional reserve banking in its entirety or is he only against fractional reserve banking by a state central bank? There's a lecture by Jeff Hummel entitled "Why fractional reserve banking is more libertarian than the gold standard". Is the disagreement just with...
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I was listening to Peter Schiff, and I heard him say that you don't have to give up a fractional reserve system as long as you tie it to gold. However, I thought you would want a 100% reserve currency because otherwise the money supply could still change based on the amount of credit in the system...
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See Rothbard's What Has Government Done to Our Money . When a regular person buys a government bond, that person is spending money they had to have somehow received beforehand from someone else. That is, it must have been money that was already in circulation. When the Federal Reserve buys government...
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[quote]There is a good case to be made that banking, like many social needs, is a federal not a local issue, and so should have a federal bank. Interstate commerce is regulated by the federal government, not state governments. This is constitutional. You make many claims that I do not agree with about...
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Money as debt is a good educational video of how the system works but it's socialized solution is something that could be compared to the FED itself. The amount of money created (liability) in the economy should equal to that of the production (asset) of a nation thereby offsetting each other and...
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Just tonight, I was talking to someone about how the market entails natural regulations, regulations which the government perverts and negates through its own coercive regulations. I gave the example of our banking industry which, thanks to Big Government, is essentially completely unregulated. Banks...