Criticisms
Critics of fractional-reserve banking and proposals for monetary reform have included economists such as Irving Fisher and Frank Knight. U.S. Congressman Ron Paul and Austrian School economist Murray Rothbard have identified fractional-reserve banking, central banking, and fiat currency as interdependent and destructive features of modern monetary systems. In Rothbard's analysis, the practice of fractional-reserve banking amounts to a form of fraud, embezzlement or legalized counterfeiting.
Read more about this topic: Criticism Of Fractional Reserve Banking
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