"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Short Changing 100 Percent Reserves
"Selgin (2009) offers a challenge to 100 percent reserve banking by noting that small change would be unprofitable with 100 percent reserve money. This minor challenge fails firstly because 100 percent reserve banking does not require 100 percent reserve money, only market determined money. Small change is shown here to not be a problem in the free market. Evidence from Richard Cantillon (1730) suggests that in the absence of government coercion, small change was not a problem."
0
Your rating: None
- Login to post comments
User Login
Search This Site
Recent comments
-
Cuomo (just like his father) is the very definition of a com...4 days 10 hours ago
-
No real surprise.6 weeks 3 days ago
-
https://gx2527leftinvietnam.com/7 weeks 4 days ago
-
https://www.infowars.com/posts/alert-col-macgregor-warns-dem...11 weeks 2 days ago
-
And of course, both of the author/commentators are Jews. No...11 weeks 4 days ago
-
Surprised to see Switzerland at only 32/100. Would've be...13 weeks 1 day ago
-
https://www.infowars.com/posts/johns-hopkins-says-gun-contro...17 weeks 4 days ago
-
An early Christmas present, it seems -- here, some 17 years...21 weeks 5 days ago
-
Never Forget Building 7: https://www.infowars.com/pos...36 weeks 3 days ago
-
Straight out of the communist playbook, as per Saul Alinsky...1 year 3 weeks ago
more