"Basically ... fractional-reserve debt-based fiat monetary systems & their 'independant' central bank govenors have to be up there as the greatest (oligarchial/monopolistic) sleight-of-hand frauds of all time ... "
Talk about flogging a dead horse.
Fractional Reserve is normal. It's called banking. The simplest way to illustrate this is to imagine a world without fractional reserve banking.
Let's say I start a new bank. On day 1 you walk in and deposit $100. The following day Mark Smyth walks in :
'Could I borrow $50' asks Mark Smyth. 'Sorry, no can do', says I. 'Why not?' 'If i did, I would be creating money out of thin air and I would never hear the end of it on Hotcopper'
Ten years later, you come back to the bank :
'Could I have my money?' 'Sure', here's your $100' 'What about my interest' 'Well, normally I would have on lended your money and earned some interest, but sadly we can't do that anymore' 'You're not really a bank, are you' 'No we are not' 'What do you do all day?' 'Read Hotcopper'
