Iceland Ponders Radical Money Plan Including Elimination of Fractional Reserve Lending and Deposit Insurance
MishTalk
APRIL 1, 2015
banks issuing 2-year CDs and lending money for 15-year mortgages), bank''s ability to lend money into existence, and deposit insurance. Fractional reserve lending allows banks to lend out a near infinite amount of credit with essentially no backing. And banks are not required to hold any reserves on savings accounts at all.
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