Thursday, July 26, 2012

Murray Rothbard on Bank Runs and the Fractional Reserve System


  1. Deposit insurance for Fractional Reserve banking system is like "..insuring the Titanic after it hit the iceberg." Great line. You have to hand it to Murray , what a great sense of humor!

  2. Two "morning coffe"'s today eh Bob?

    When Rothbard spoke of "confidence" in the money system it was kind of funny to me because I remember getting the explantion of how the monetary sytem works in Macro in college during the early 90's and thinking "faith? that's it?".

    LOL...there is a confidence obviously...but it's a "confidence game", with the confidence man being the Bernank and their mark the sheeple.

  3. That's why I think Bernanke will be replaced. He doesn't inspire confidence or awe. He's very shaky. He seems nervous all the time.

    Unfortunately Rothbard died before he ever got the rockstar-treatment like Ron Paul. I would have stood in line to get Murray's autograph.