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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?
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I was wondering if someone could give me a hand with this guys blog post - he seems to think that the US Government is not Revenue Constrained - And can basically print money forever with no downside - he is of the mind that even taxes are theoretically not necessary. Also he thinks that the USA will...
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First of all, I would like to introduce myself. I am a computer programmer from the Netherlands. I am working on a theory of money and banking derived from the "Natural Economic Order" of Silvio Gesell. "Natural Economic Order" clearly states that the root the economic and monetary...
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Monetary Evolution: Where are we today? Commerce today is dominated by “electronic” transactions. A business that does not support the use of debit/credit cards will be extremely limiting its customer base and will likely not survive. The emergence of this form of money was the credit card...
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I have thus far found the Mystery of Banking to be an amazing book on the dynamics of the money system. But Rothbard's description of the fractional reserve system does not jive with what I have been taught and this definition becomes essential later on when he explains why fractional reserve banking...
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Point taken. However I'm not debating the form and makeup of a state, or indeed the virtues of anarchism! What I'm curious about is whether or not the core economic issue is the violent enforcement of a monopoly on currency ( by the state ). Fine, get rid of the FED - let the state control money...
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@ meambobbo Great post, just curious... So... perhaps what might be ideal is a completely open, free-market competition in actual currency? Gold, silver, paper money (backed 100% by X Y or Z) or e-gold, diamonds, vintage cheeses (joke!) or whatever the free-market innovates and finds most convenient...