Market Anarchy

a-petro-manifesto:

Thank you!

I’ll be doing a little extra reading this weekend now. 

Fractional reserve banking is out right theft and fraud.  Bankers steal from their depositors with the hopes that they don’t all come back looking for what is rightfully theirs.  As soon as a bank lends out more than it’s liabilities they become insolvent. Giving out money not backed by anything only causes massive inflation.  As it did all through out the history of banking. 

The only thing that has propped up the banks is government intervention.  Many times through out the short history of the United States the government has made it illegal for people to organize bank runs and/or just suspended banks from giving the depositors what is rightfully theirs. 

Unless you want to legalize theft and fraud.  Fractional reserve banking should be treated as such.