http://groups.yahoo.com/group/LPplatform-discuss/ LPplatform-discuss Sat, 05 Jul 2008 17:23:16 GMT Brian Holtz http://groups.yahoo.com/group/LPplatform-discuss/message/4298 http://groups.yahoo.com/group/LPplatform-discuss/message/4298 D. Frank Robinson wrote: DFR) Fractional reserve lending is simply a form of lottery IMHO. (DFR I wouldn't agree that every economic activity that has non-zero Sat, 05 Jul 2008 16:10:42 GMT D. Frank Robinson http://groups.yahoo.com/group/LPplatform-discuss/message/4297 http://groups.yahoo.com/group/LPplatform-discuss/message/4297 "A 100% reserve system is a relatively costly way of producing money, and as a result is unlikely to survive in a competitive market." Brian, I'm mulling over Sat, 05 Jul 2008 15:46:11 GMT D. Frank Robinson http://groups.yahoo.com/group/LPplatform-discuss/message/4296 http://groups.yahoo.com/group/LPplatform-discuss/message/4296 Thanks for the second. The LN3C must be a low priority. Perhaps the LN3C should simply be ignored until it comes to life. I am hoping to instigate the Sat, 05 Jul 2008 15:27:05 GMT Brian Holtz http://groups.yahoo.com/group/LPplatform-discuss/message/4295 http://groups.yahoo.com/group/LPplatform-discuss/message/4295 Frank, is anything you wrote supposed to contradict anything I forwarded from Friedman? Sat, 05 Jul 2008 14:45:20 GMT D. Frank Robinson http://groups.yahoo.com/group/LPplatform-discuss/message/4294 http://groups.yahoo.com/group/LPplatform-discuss/message/4294 Storing or warehousing wealth is not the same business as lending or leasing wealth. Modern banking conflates the two. Let's just talk gold. A person who Sat, 05 Jul 2008 04:45:47 GMT michael.h.wilson@... http://groups.yahoo.com/group/LPplatform-discuss/message/4293 http://groups.yahoo.com/group/LPplatform-discuss/message/4293 D. Frank Robinson has commented a couple of times about making it a priority to run people for congressional offices. That is an excellent idea in my opinion. Fri, 04 Jul 2008 20:51:12 GMT Brian Holtz http://groups.yahoo.com/group/LPplatform-discuss/message/4292 http://groups.yahoo.com/group/LPplatform-discuss/message/4292 Dr. Friedman mentioned to me that he'd discussed this on Usenet before. Searching DejaNews (i.e. Google Groups) finds the following, mostly from 1998 on Fri, 04 Jul 2008 20:22:34 GMT kevin Bjornson http://groups.yahoo.com/group/LPplatform-discuss/message/4291 http://groups.yahoo.com/group/LPplatform-discuss/message/4291 (K) If fractional reserve banking were prohibited, I suspect most banks would have to charge a fee for storing currency of depositors. Let us say, I deposit Fri, 04 Jul 2008 20:04:21 GMT kevin Bjornson http://groups.yahoo.com/group/LPplatform-discuss/message/4290 http://groups.yahoo.com/group/LPplatform-discuss/message/4290 (JR) Not correct. FRNs are NOT backed by government assets. If you want an FRN redeemed you will be handed more FRNs. That's all. Can't go to court and get Fri, 04 Jul 2008 17:08:21 GMT D. Frank Robinson http://groups.yahoo.com/group/LPplatform-discuss/message/4289 http://groups.yahoo.com/group/LPplatform-discuss/message/4289 A banking system in which only a fraction of the total deposits managed by a bank must be kept in reserve. The amount of the deposits equals the amount of the Fri, 04 Jul 2008 16:28:15 GMT Brian Holtz http://groups.yahoo.com/group/LPplatform-discuss/message/4288 http://groups.yahoo.com/group/LPplatform-discuss/message/4288 Jon, it sounds like your complaint is not about fractional reserve banking per se, but rather has to do with the federal government's power/practices regarding Fri, 04 Jul 2008 12:43:02 GMT Jon Roland http://groups.yahoo.com/group/LPplatform-discuss/message/4287 http://groups.yahoo.com/group/LPplatform-discuss/message/4287 Not correct. FRNs are NOT backed by government assets. If you want an FRN redeemed you will be handed more FRNs. That's all. Can't go to court and get anything Fri, 04 Jul 2008 06:56:33 GMT kevin Bjornson http://groups.yahoo.com/group/LPplatform-discuss/message/4286 http://groups.yahoo.com/group/LPplatform-discuss/message/4286 (Jon) returning to the constitutional requirement that only gold and silver coin be legal tender on state territory, would largely rein in fractional reserve Fri, 04 Jul 2008 06:48:22 GMT kevin Bjornson http://groups.yahoo.com/group/LPplatform-discuss/message/4285 http://groups.yahoo.com/group/LPplatform-discuss/message/4285 Jon said: "The Fed" is not a single organization, but a network of twelve regional federal reserve banks broadly governed by a board appointed by the Thu, 03 Jul 2008 23:21:08 GMT Jon Roland http://groups.yahoo.com/group/LPplatform-discuss/message/4284 http://groups.yahoo.com/group/LPplatform-discuss/message/4284 It is not being "inherently fraudulent" that makes fractional reserve banking a dangerous practice in the long run, although eliminating federal legal tender