Anecdotal evidence suggests that the very founding of the institution of fractional reserve banking was predicated upon lies and chicanery, upon fraud and deceit.

Unlike the scenario where gold depositories violated their core oath to safely store their client's metals -- by loaning these assets out to others -- transacting in Bitcoin IOUs carries no advantage whatsoever from transacting in actual Bitcoins.

In contrast, transacting in depository-issued certificates or notes rather than the metal itself has very real advantages, in terms of the convenience of portability, divisibility, etc. (Ignoring for the moment the very real risk disadvantage)

With Bitcoin IOUs conveying no advantage to the user whatsoever as compared to transacting in actual Bitcoins, knowledgeable people will have no incentive to prefer them. With the very real negative of possible loss of value, people have every incentive not to accept Bitcoin IOUs in lieu of Bitcoins.

With no advantage, and a very real disadvantage, knowledgable people will not accept Bitcoin IOUs in lieu of Bitcoins.

If we can get the populace informed of the attributes of Bitcoin -- and more importantly the attributes of the fiat money system -- we can stave off any embryonic move towards fractional reserve bitcoining before it has a chance to take root.