Re: Fractional Reserve Lending IS NOT bad - its unavoidable
On the issue of Fractional reserve banking being a fraud or not, I just want to point out that we individuals would go to jail if we started lending several times money people entrusted to us. But never mind.
Individuals are not banks. There is a special set of regulations that allows banks to do what they do. These do not extend to individuals (unless those individuals decide to open a bank
)And please explain to us all why banks should have this special privilege? And tell me what is the Blockchain for?
Because that's what the politicians we voted into office legislated. That's the rules that were made. For the same reason a policeman gets to arrest people and I don't. Right?
Block chain is for keeping a history of transactions. Why?