Why is the Full Reserve Banking vs Fractional Reserve Banking issue important? Philipp Bagus explains
Discussion
Fractional reserve banking = you don’t need to spend any energy to create value
Full reserve banking = you need to spend a lot of energy to create value.
Fractional reserve banking ==> you can create value without spending energy and you can steal all the time people put into creating real stuff.
Full reserve banking ==> you need to spend a lot of energy and you cannot steal people’s time they put in creating real stuff.
Because maths exists