Idiot's Guide to Austrian Economics
MishTalk
AUGUST 19, 2014
Point by Point Look Tamny : "It’s well known that some Austrians have a major problem with ''fractional reserve banking'' whereby banks pay for liabilities (deposits) by virtue of turning those liabilities into assets (interest paying loans). In fact, he makes it clear he is clueless as to where the money banks lend even come from.
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