4 ms·
It's not a con game, it is just a weakness of the fractional reserve banking system.
by idoh 16y ago
It's not a con game, it is just a weakness of the fractional reserve banking system.
- fleitz 16y agoA con game is a confidence game. There is no reserve in our current system, what asset is backed against the dollar? The answer, the confidence that a future generation will pay the interest on the current debt.
- idoh 16y agoYour answer makes no sense and isn't responsive at all to the issue. We are talking about the need for confidence in banks and the banking system. This isn't something new, all banks face this issue. Addressing your irrelevant tangents: - even when money was backed by gold there were still bank runs - there is a reserve, the cash deposits are backed by cash reserves - I don't even know how you managed to bring the national debt into the picture.
- lupatus 16y agoThe US Dollar is backed by F-16s.
- fleitz 16y agotouche.