Yes, I'm a macroeconomist, I dabble in these matters all day every day (actually not really, I run the family company nowadays, but anyway, this stuff is my bre

Yes, I'm a macroeconomist, I dabble in these matters all day every day (actually not really, I run the family company nowadays, but anyway, this stuff is my bread and butter, supposedly)... I know that current western systems are better characterised as being endogenous money systems rather than fractional reserve (though the two are not mutually exclusive, as if the reserve ratio is not mandatory but flexible then banks can be doing fractional reserve while the central bank simultaneously does not have any control over the size of the money supply... which isn't that bizarre either because as one progresses up the hierarchy of money supplies (M0, M1, M2, M3...) one pretty quickly gets far from anything central banks can legiferate about and into the domain of “assets agents are willing to accept as valuable and as suitable for exchange”, such as cigarettes, art, or prime real estate. I'd argue that the endogenous money model most definitely isn't applicable to any cryptocurrency currently out there because maximum amounts are fixed, and thus (eventually) would be come unresponsive to market needs (and more technically, their derivative, the ‘speed’ with which money is introduced or removed, does not depend on the needs of the underlying economy and instead on technical aspects of the size of the mining network & cetera). Sorry I didn't answer earlier I didn't see your comment.