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Originally Posted by stocktrader23
Is this more fractional reserve b/s? There is nothing wrong with fractional reserve in the BANKING system. There are regulations and backups put in place to keep things operating and it puts more 'money' into the system. This is not OMG bad like a lot of nutjob sites suggest.
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It's really simple and explain a lot more than just fractional reserve banking. It covers the history of money, before the FED was created.
If you want something longer and detailled, watch "Money Masters" (3hrs+)
It's an oxymoron to pretend regulations and backups keep things operational. The 2008 crisis would not exists. The FDIC would be bankrupt if it was not of QE... and now QE2.