The Fractional-Reserve Banking Question

None are more hopelessly enslaved than those who falsely believe they are free.” Johann Wolfgang von Goethe

Sir Josiah Stamp, the president of the Bank of England in the 1920s and the second richest man in Britain, made this revealing comment: “Banking was conceived in inequity and was born in sin.” The bankers on the earth take it away from them but leave them the power to create deposits, and with a flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all of the great fortunes like mine will disappear. And they ought to disappear. For this would be a happier and better world to live in. But if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create deposits.”

See Also: FRACTIONAL RESERVE BANKING EXPLAINED IN ONE MINUTE–VIDEO

https://mises.org/library/fractional-reserve-banking-question