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Wow, you are so underinformed about this.

Posted on: October 16, 2017 at 07:54:35 CT

ummmm MU

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Currently, banks lend out far more than 100% of reserves. Preacher and JeffB have already tried to help you by understanding the current state of fractional-reserve banking. This fractional-reserve game is encouraged by the federal govt/federal reserve and all of the elite academic economists who cheer it on.

In my world of free banking, banks would be free, and would set their own reserve ratios. Of course, with out a fiat currency and a federal reserve backstop, banks would not be able to lend anything more than the reserves in their customers' restricted accounts (i.e. the difference between unrestricted checking-demand deposits and restricted saving deposits). Otherwise, their fraud would become apparent at the second the first bank certificate was submitted for recoupment by a competing bank.

"Where did you receive your economic/finance degree from?"

Irrelevant. Economics is a subject for the people, not intelligentsia.

Please explain why this message is being reported.

REPLY

MESSAGE THREAD

tigerdb: what would happen if tomorrow morning, every - ummmm MU - 10/15 19:03:35

ummm, in your world, I assume that those banks wouldn't be - tigerdb MU - 10/15 20:32:04

Also, how about answering my question? - ummmm MU - 10/16 07:56:03

Wow, you are so underinformed about this. - ummmm MU - 10/16 07:54:35

? - You do understand fractional reserve banking, right? (nm) - JeffB MU

- 10/15 22:11:10

W/o government and REGULATIONS, why would banks - tigerdb MU - 10/15 22:28:07

I was not talking about eliminating government... I was - JeffB MU

- 10/15 22:40:48

this thread is his follow-up to his earlier thread - tigerdb MU - 10/15 22:49:22

I've started this thread to address your wild distraction - ummmm MU - 10/16 07:55:40

OK, I'm not in favor of repudiating the federal debt... - JeffB MU

- 10/15 23:45:55

Maintain reserves ? They dont do that now - Preacher UMKC - 10/15 20:37:03

and since you're stepping in as ummm's dance partner on this - tigerdb MU - 10/15 20:48:10

This is a complex question as i question our banks solvency - Preacher UMKC - 10/15 21:05:13

I see that as being pretty inconsistent; banks don't - tigerdb MU - 10/15 21:14:40

1. eliminating the Fed is not the same thing as eliminating - JeffB MU

- 10/15 22:15:16

How would the Fed be retained if the federal government - tigerdb MU - 10/15 22:25:23

Fed employees are not government employees. - ummmm MU - 10/16 07:58:06

I was talking the other way around... You can eliminate - JeffB MU

- 10/15 22:34:36

Oh really...gramps - tigerdb MU - 10/15 20:44:57

Can you read son? - Preacher UMKC - 10/15 21:13:05

Sure gramps, I can read - if they only loaned out an amount - tigerdb MU - 10/15 21:17:10

My idea of "reserve" Is not 10% of what your loaning out - Preacher UMKC - 10/15 21:22:13

I agree with most of this - tigerdb MU - 10/15 21:30:14

Not going to happen - Preacher UMKC - 10/15 19:06:40

I tried to draw out 20K to pay for a car - tman KC - 10/15 19:25:13

Tell that to tigerdb, not me. - ummmm MU - 10/15 19:10:24

I know that dumb ass....How much $ do you think you would - tigerdb MU - 10/15 20:21:07

I have no delusions about the instability of any and all - ummmm MU - 10/16 07:56:39

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