So he’s only just noticed?

The fundamental flaw in banking is it is inherently designed to fail

Well, no, it’s that fractional reserve banking is inherently unstable and potentially subject to runs.

Thing is, I’ve not seen him recommending 100% reserve banking anywhere……

5 comments on “So he’s only just noticed?

  1. And every minor change between running everything on actual physical gold and a complete system of central bank/LOLR supported fractional reserve banking has huge improivements to the functioning of the economy and reduced transaction costs.

    i.e. there’s a trade off between risk and reward: who knew?

  2. The fundamental flaw in banking is it is inherently designed to fail

    So not unlike life itself then.

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