It's not uncontrollable. Hitler took control of the central bank, but he didn't abolish commercial banking, he just tightly regulated it. To outlaw fractional reserve would effectively abolish commercial banking, they would have no function other than being places to store money, all lending other than direct person-to-person would effectively be controlled by the government in a Soviet-style system.
Fractional reserve banking does not create more paper money - that privilege remains with the central bank. All it does is keep the paper circulating more, rather than sitting in vaults to cover the full amount held in accounts. This creates an effective increase in the money supply, because the money is still "there" in the bank account even though it's actually been mostly lent out.
Fractional reserve banking, when operating properly under a sensible regulation regime, provides a self-adjusting mechanism for the money supply. It's similar to how supply and demand sets a price level in a market economy. Government control over the economy works better through indirect means - we know how past experiments with command economies turned out.
Benjamin Sullivan
This shit is more fiat than any other currency out right now. Needless to say kikes will love this. Is it so fucking hard to bring back merit/labor based currency. What the fuck is wrong with people who do not want to help their own nation and people. Now we enter age of money that is backed by air and masses are ignorant and lazy assholes.
Tyler Phillips
It was shut down by the (((voters)))
Matthew Hall
Fuck that was today? I overslept.
Lucas Kelly
tell us more about the soviet style system i am interested
Liam Murphy
It increases by 10-100x the amount of borrowing that can be done, allowing far more interest on debt
Usury is immoral, economy wrecking, and funds the jews. The correct way for a bank to operate is to charge a fee for protecting money, such as is done with security deposit boxes.
The currency supply should be raised or lowered by the central bank to match economic productivity so that the currency supply can be stable. Otherwise you get market bubbles/crashes.
Cameron Wright
A single government-controlled bank, responsible for all lending.
And interest on savings. Do you not want to be able to save in banks and earn some interest?
Ah, ok, I guess not then. You want people to stuff their savings into their mattresses.
This is achieved indirectly in the current system through setting of central bank interest rates, and regulation of commercial banks. It works a hell of a lot better than the Soviet model, which is what you are proposing.
Lincoln White
starve people ??? profit
Robert James
It is backed by NOTHING
Grayson Nelson
It's backed by confidence in the state that issues it, as opposed to being backed by a metal, which is just as arbitrary, being determined by its rarity with no connection to its actual utility.
