http://www.cobdencentre.org/2009/12/banking-part-1/ For honest money and social progress Wed, 08 Feb 2012 14:09:07 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://www.cobdencentre.org/2009/12/banking-part-1/comment-page-1/#comment-22945 News from Korea: Bank run fears engulf savings bank industry » The Cobden Centre Sat, 19 Feb 2011 11:48:00 +0000 http://www.cobdencentre.org/?p=1780#comment-22945 [...] Bank runs are only possible because banks, uniquely, operate in an environment of unconventional property rights, supported by central banks and the socialisation of risk. I explain further here: The legal nature of banking contracts. [...] [...] Bank runs are only possible because banks, uniquely, operate in an environment of unconventional property rights, supported by central banks and the socialisation of risk. I explain further here: The legal nature of banking contracts. [...]

]]> http://www.cobdencentre.org/2009/12/banking-part-1/comment-page-1/#comment-8016 British Proposal for Banking Reform: Fractional-Reserve Banking versus Deposits and Loans | The Libertarian Standard Tue, 14 Sep 2010 18:20:19 +0000 http://www.cobdencentre.org/?p=1780#comment-8016 [...] At present, as in the US, most of the money “deposited” with a bank may be lent out by the bank, even though the “deposit” is also available and guaranteed to the depositor. This centralized FRB practice of course results in inflation, the business cycle, moral hazard, and so on. Many Austrians also oppose FRB on the grounds that it has been, or tends to be, or inevitably will be, bound up in some type of fraud. Other Austrians–primarily, but not exclusively, those in favor of a private variant of FRB–maintain that FRB need not be fraudulent, and, indeed, that it can be very useful. (For pro-FRB Austrian views, see Selgin & White, In Defense of Fiduciary Media — or, We Are Not Devo(lutionists), We Are Misesians!; for a competing view, see Jesús Huerta de Soto, Money, Bank Credit, and Economic Cycles; Hoppe, Hülsmann & Block, Against Fiduciary Media; Hoppe, How is Fiat Money Possible?-or, The Devolution of Money and Credit; Hülsmann, The Ethics of Money Production; idem, Free Banking and Fractional Reserves: Response to Pascal Salin; idem, Free Banking and the Free Bankers; idem, Has Fractional-Reserve Banking Really Passed the Market Test?; also see Steve Baker, What is wrong with banking, part 1: the legal nature of banking contracts.) [...] [...] At present, as in the US, most of the money “deposited” with a bank may be lent out by the bank, even though the “deposit” is also available and guaranteed to the depositor. This centralized FRB practice of course results in inflation, the business cycle, moral hazard, and so on. Many Austrians also oppose FRB on the grounds that it has been, or tends to be, or inevitably will be, bound up in some type of fraud. Other Austrians–primarily, but not exclusively, those in favor of a private variant of FRB–maintain that FRB need not be fraudulent, and, indeed, that it can be very useful. (For pro-FRB Austrian views, see Selgin & White, In Defense of Fiduciary Media — or, We Are Not Devo(lutionists), We Are Misesians!; for a competing view, see Jesús Huerta de Soto, Money, Bank Credit, and Economic Cycles; Hoppe, Hülsmann & Block, Against Fiduciary Media; Hoppe, How is Fiat Money Possible?-or, The Devolution of Money and Credit; Hülsmann, The Ethics of Money Production; idem, Free Banking and Fractional Reserves: Response to Pascal Salin; idem, Free Banking and the Free Bankers; idem, Has Fractional-Reserve Banking Really Passed the Market Test?; also see Steve Baker, What is wrong with banking, part 1: the legal nature of banking contracts.) [...]

]]> http://www.cobdencentre.org/2009/12/banking-part-1/comment-page-1/#comment-8012 British Proposal for Banking Reform: Fractional-Reserve Banking versus Deposits and Loans Tue, 14 Sep 2010 17:57:46 +0000 http://www.cobdencentre.org/?p=1780#comment-8012 [...] At present, as in the US, most of the money “deposited” with a bank may be lent out by the bank, even though the “deposit” is also available and guaranteed to the depositor. This centralized FRB practice of course results in inflation, the business cycle, moral hazard, and so on. Many Austrians also oppose FRB on the grounds that it has been, or tends to be, or inevitably will be, bound up in some type of fraud. Other Austrians–primarily, but not exclusively, those in favor of a private variant of FRB–maintain that FRB need not be fraudulent, and, indeed, that it can be very useful. (For pro-FRB Austrian views, see Selgin & White, In Defense of Fiduciary Media — or, We Are Not Devo(lutionists), We Are Misesians!; for a competing view, see Jesús Huerta de Soto, Money, Bank Credit, and Economic Cycles; Hoppe, Hülsmann & Block, Against Fiduciary Media; Hoppe, How is Fiat Money Possible?-or, The Devolution of Money and Credit; Hülsmann, The Ethics of Money Production; idem, Free Banking and Fractional Reserves: Response to Pascal Salin; idem, Free Banking and the Free Bankers; idem, Has Fractional-Reserve Banking Really Passed the Market Test?; also see Steve Baker, What is wrong with banking, part 1: the legal nature of banking contracts.) [...] [...] At present, as in the US, most of the money “deposited” with a bank may be lent out by the bank, even though the “deposit” is also available and guaranteed to the depositor. This centralized FRB practice of course results in inflation, the business cycle, moral hazard, and so on. Many Austrians also oppose FRB on the grounds that it has been, or tends to be, or inevitably will be, bound up in some type of fraud. Other Austrians–primarily, but not exclusively, those in favor of a private variant of FRB–maintain that FRB need not be fraudulent, and, indeed, that it can be very useful. (For pro-FRB Austrian views, see Selgin & White, In Defense of Fiduciary Media — or, We Are Not Devo(lutionists), We Are Misesians!; for a competing view, see Jesús Huerta de Soto, Money, Bank Credit, and Economic Cycles; Hoppe, Hülsmann & Block, Against Fiduciary Media; Hoppe, How is Fiat Money Possible?-or, The Devolution of Money and Credit; Hülsmann, The Ethics of Money Production; idem, Free Banking and Fractional Reserves: Response to Pascal Salin; idem, Free Banking and the Free Bankers; idem, Has Fractional-Reserve Banking Really Passed the Market Test?; also see Steve Baker, What is wrong with banking, part 1: the legal nature of banking contracts.) [...]

]]> http://www.cobdencentre.org/2009/12/banking-part-1/comment-page-1/#comment-3942 The Earl of Caithness: “The Banking Bill fails to address the fault which has led to every major banking and currency crisis during the past 200 years” » The Cobden Centre Thu, 29 Jul 2010 15:55:44 +0000 http://www.cobdencentre.org/?p=1780#comment-3942 [...] See also What is wrong with banking, part 1: the legal nature of banking contracts. [...] [...] See also What is wrong with banking, part 1: the legal nature of banking contracts. [...]

]]> http://www.cobdencentre.org/2009/12/banking-part-1/comment-page-1/#comment-3937 How to avoid future encounters with financial meltdown » The Cobden Centre Thu, 29 Jul 2010 15:51:30 +0000 http://www.cobdencentre.org/?p=1780#comment-3937 [...] What is wrong with banking, part 1: the legal nature of banking contracts [...] [...] What is wrong with banking, part 1: the legal nature of banking contracts [...]

]]> http://www.cobdencentre.org/2009/12/banking-part-1/comment-page-1/#comment-3925 The Luvvie Tax » The Cobden Centre Thu, 29 Jul 2010 15:45:24 +0000 http://www.cobdencentre.org/?p=1780#comment-3925 [...] What is wrong with banking, part 1: the legal nature of banking contracts [...] [...] What is wrong with banking, part 1: the legal nature of banking contracts [...]

]]> http://www.cobdencentre.org/2009/12/banking-part-1/comment-page-1/#comment-1988 An honest money maiden speech » The Cobden Centre Wed, 09 Jun 2010 09:01:36 +0000 http://www.cobdencentre.org/?p=1780#comment-1988 [...] Commons. The full text may be found here. The articles which most closely inspired the speech are here and [...] [...] Commons. The full text may be found here. The articles which most closely inspired the speech are here and [...]

]]> http://www.cobdencentre.org/2009/12/banking-part-1/comment-page-1/#comment-233 How to deal with the Banksters » The Cobden Centre Fri, 18 Dec 2009 08:06:36 +0000 http://www.cobdencentre.org/?p=1780#comment-233 [...] What is wrong with banking, part 1: the legal nature of banking contracts [...] [...] What is wrong with banking, part 1: the legal nature of banking contracts [...]

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