Fractional Reserve Banking (Part II)
Under free competition, and without government support and enforcement, there will only be limited scope for fractional-reserve banking. Banks could form
Source: mises.org
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Macleod: The Upside-Down World Of Currency
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
Source: zerohedge.com
What Bagehot Means for 21st Century Central Bankers
Is Victorian writer Walter Bagehot, whose adage “lending freely against good collateral at a penalty rate” has been gospel for central bankers, still relevant in a post-Great Financial Crisis world?
Source: nakedcapitalism.com