Crime Against Humanity: Fractional Reserve, Namely Legalized Counterfeiting, 6

So you deposit 10 units of money in your bank account, 10 units of grain into a grain warehouse, 10 personal belongings into a self storage. Again, emphasis added to the fact that all of them are yours. Once your grain and your personal belongings are in their respective warehouses, they remain yours, which sounds quite obvious. The owners of those warehouses are bailees: should they ever dare to use your property as theirs, this would be a criminal offense. Lend or use in any other way your property without your consent? Return you something different than your property? Enter in their balance sheet, therefore as their property, the value of your property? These are criminal acts; their name is: embezzlement.
Not so with your money; quite the contrary. As soon as your money is in your bank account, it is not yours anymore. The crucial point is here: what did take place when you deposited your money in your bank account, exactly? What was exchanged for what, exacly? When you deposited your grain into the grain warehouse, you exchanged it with a claim ticket for that specific grain, attesting that that specific grain belongs to you. When you deposited your personal belongings into the self storage, you exchanged it with a claim ticket for those specific items, attesting that those specific items belong to you. When you deposited your money into your bank account, you exchanged it with an I Owe You for that amount: you were taken away the property of your money and you received in exchange a credit for that amount.
This is no small thing. This means that the banker enters your money into his or her bank’s balance sheet; this means that the banker now owns that money and is entitled to any profit from its use; and this means as well that should the banker be unable to return you a corresponding amount, that would be just an unfortunate case of insolvency, and not a criminal case of embezzlement. It’s banker versus warehouseman, loan versus safekeeping, bank credit versus warehouse receipt, legitimate entrepreneurial action versus embezzlement, banking law versus bailment law, unlucky entrepreneurial failure versus criminal act.