>This is completely different than issuing company scrip and buying up assets with it to enrich yourself with it. That is exactly what the fractional reserve b

>This is completely different than issuing company scrip and buying up assets with it to enrich yourself with it. That is exactly what the fractional reserve banking system does. The dollars in people's accounts don't actually exist, but the bank uses the money that people deposit to buy assets that enrich the CEO and shareholders. >nobody has lost a single dollar to a bank failure since the backstop (the FDIC) was introduced in 1933 I find that difficult to believe. But people have been scammed indirectly in any case with bank bailouts that pass taxpayer money onto the banks, paying them for gambling with your money and not holding reserves. It's like saying Tether is safe backing only 10% of assets because the government can just bail them out if necessary.