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1. Why does the market fail when it comes to banking? 2. Why is this regulation necessary? 3. What happens when fractional reserve banks emerge naturally, and start popping up everywhere? 4. Who and how will you enforce this regulation? Where's the consistency from the "anarchists?" did those questions get answered?
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"Sthomper, Isn't it true that the people who are really hurt by inflation are the people who have a lot of money saved? I mean, the average worker, whose wages presumably move up with inflation, isn't going to care as much as the person with a little wealth stashed away. Doesn't inflation have a greater negative effect on savers than
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as interesting and useful as it us to understand the current money system and how to undo it or change it and the sort of incorrect charge that rothbardians (if there is such a thing) woudl ban it. additionally it should be asked if it is harmful? it seems sort of empty to wonder about consistency of rothbardians and not question or investigate if what
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"Now there isn't. It has been legalized and the government guarantees all deposits. Remove the guarantees and it must operate by deception. Are you familiar with the history of banking?" i guess this is correct. if i put gold into deposit and receive notes corresponding to the gold-weight that was deposited and believe the gold to rest
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i dont think it necessary to read it from start to finish. a sentence should be able to get a specific point across. he he contradicts himself later in the book then call. i dont even know if it is all true. John Edward McGee, Jr. (born October 19, 1969) is an American television personality , and psychic medium . He is best known for his TV shows Crossing
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at least to arrive at a system where any bank, at the slightest hint of nonpayment of its demand liabilities, is forced quickly into bankruptcy and liquidation . While the outlawing of fractional reserve as fraud would be preferable if it could be enforced, the problems of enforcement, especially where banks can continually innovate in forms of credit
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Rothbard shows that the practice (as currently and historically practiced) is a form of embezzelement.... the practice? fractional reserve banking + central bank + govt say-so, sometimes??
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the monetary base was $836.4 billion. Accordingly, the amount of fiduciary media in the United States was equal to the difference, which was $6065.5 billion http://mises.org/story/3556 is the above info true? if there are 836 billion kittysitting dolars but 6 trillion non kitty sitting dollars , what is the difference between the two?
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enough said from those that say nothing anyway. "You don't think there's a drawer there with your name on it with your money in it?" Her reply was: "Duh - everyone knows that's not how it works. You don't get back the same bills you put in, right?" That's right, hon, that is right. i dont know of anyone that thinks
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"Fraud is voluntary?" yeah...fraud isnt voluntary. some may know they are being deceived and accept it. i would think that fraud would be something someone wouldnt want to have done to them. my account agreement with wells fargo says nothing about any demand deposit or gold. and i never had any idea how banks worked until just a few years