It's fraud because banks make you think their IOUs=dollars, when in fact they are definitely not equal because they are not backed 100% by dollars.
So there are people who think they are 100% backed by dollars? Where can I find some of these people? And how do banks make people think this? Is it some form of mind control?
Further fraud is caused the Federal Reserve because they counterfeit new dollars, so today's dollar is not the same thing as yesterday's dollar. $(today) != $(yesterday). But the Fed lies to you and makes you think $(today)=$(yesterday) by calling both of them "dollars", hence the fraud. So banks are a fraud on top of a fraud.
Let's stick to fractional reserve banking first. I can only rebut one conspiracy theory at a time. (But yes, inflation caused by government expansion of the money supply does act like a tax on all wealth. But this is no secret.)