Re: How I Learned to Stop Worrying About Fractional Reserve …
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Patrick, I think we will continue to disagree fundamentally. My position is that private banks should not issue our money through a monopoly. It is the core issue of a monetary policy IMHO.
Banks operate off a spread and that’s fine by me. Why not allow "We the People" through our treasury to benefit from that which we alone have the power to create. We may choose to out-source this power if we want, but it is our status as a sovereign nation that makes that call.
The banks are not lending their money so what do they add beside processing services?
strabes, thanks for that great explanation.