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The "Goldsmith Bankers" are often associated with the origins of modern banking, but their practices, particularly fractional reserve banking, have also been labeled as corrupt. While goldsmiths did store valuables for clients and issue receipts, they also began lending out these deposits, creating credit beyond the actual gold held in reserve. This practice, known as fractional reserve banking, is sometimes criticized as fraudulent because it involves creating money out of thin air and potentially leading to bank runs if too many depositors demand their money at once.