Crime Against Humanity: Fractional Reserve, Namely Legalized Counterfeiting, 12
The crux of the matter is: since we are using a medium of exchange devoid of intrinsic value, who controls its existence and amount and is the owner of its purchasing power the moment it gets born? The producers and legitimate owners of the products whose exchange those means have to facilitate, or rather some criminals – maybe privileged oligo−monopolistic ones? And the sacrosanct necessity of society to have an adequate supply of media of exchange is exploited as the Trojan horse to take away our monetary sovereignty and hand it to the public monopolies of governments which in turn hand it to the private cartels of bankers.
Fractional reserve, inherently bankrupt and inherently fraudulent:
As under the fractional reserve our confront of facts undergoes a crescendo that shows no signs of abating, it will be prudent to restart once again from the solid foundation of incredulity. You and your friends stare at the bank’s façade and its awesome colonnade makes it impossible for you to take into consideration the hypotesis that the banker behind it has less clothes than a king with no clothes and that awesome colonnade is but a house of marked cards. Well, then let’s return to Example Island, to witness two facts proving how you’d definitely better take that hypothesis into consideration.
On the island, all the customers of a bank are your friends; some of them deposited their money, some others borrowed it, and as we have seen the bank certifies the same money as available more and more times on various accounts. So you and your friends decide to take your bank statements to their words and go to the till to demand to withdraw your money – make no mistake: all of you together, all your money at once, and cash on the nail –. You’ve just become one of the worst nightmares that took the sleep of bankers until they set up the final solution we’ll discuss right after that; a nightmare they call: bank run. Those who deposited their money say, “It’s my money, you certify it’s there, I want it; get it out, now!” Those who borrowed it say, “It’s my money until due, you certify it’s there, I want it; get it our, now!” The banker screams, “Politicians! Judges! Police! Come to my rescue! What did I buy you for?” While you flee in search of a bulletproof shelter from the treatment of injured parties, some questions remain stuck in your throat: “Where? How? Who?”. So let’s see to it that each of these questions gets answered.
