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2009.05.20
Is fractional banking fraudulent?
Fractional lending gone awry is what led us into
the current financial crisis and which could still lead to what some refer to as
"the Greater Depression". Is fractional lending in and of itself
fraudulent? Certainly our bank charges and other fees would skyrocket
upwards if fractional lending was made illegal. It is hard to imagine how
or if our society could even function without it. Karl Denninger argues
convincingly that fractional banking could and should be allowed to
continue. He argues that it is not so much the banks who are at fault as
the regulators who allowed the banks to circumvent the safeguards put in place
following the Great Depression of the 1930s. Please read his recent
article entitled: Making Sure "It" Never Happens Here (Again).
Gerry
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Posted by: Miriam | 2009.05.20
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