It's exactly how fractional reserve works. That it can happen more than once due to redepositing (in other banks, and so on...) doesn't help an argument against

It's exactly how fractional reserve works. That it can happen more than once due to redepositing (in other banks, and so on...) doesn't help an argument against that reality. You may have missed the memo that went out in 2008 regarding how banks like to do things in general. A kind of "statement" regarding their ethics and base principles. The inventor of Bitcoin didn't miss it, and created a slightly better system that was at least based on something: pointlessly throwing energy away. Did quite well at proving the concept, it's worth trillions at the moment. So it seems to work. In fact, those old banks might want to start up their own. You know, to compete. Ah, the exciting world of finance.