Wednesday, March 27, 2013

Fractional Reserve Swindling


  1. Why this seems to be an old political cartoon, from the late 19th or early 20th century. Surely, they knew the morality, stability, and BEAUTY of the practice way back then!

    But, but the FreeBankers(tm) led by the brave (and wise) Lords Selgin and White say it was Rothbard that made us all confused because he didn't understand arithmetic (despite being a mathematician by training).

    No, no, a deliberate and nasty hoax!

    1. Rothbard had some nice things to say about free banking...including the potential for stability... did Mises...including the potential for stability...

      It is always a struggle for me to understand why free markets can work everywhere, except banking. This is truly a mystery.