THAT S FRACTIONAL RESERVE BANKING !!!!
- I am a private banker, i manage tangible assets. With them, i am able to create an ad hoc currency backed by something real .... and i let you use this currency to create other assets .... Money works as a guarantee for useful exchanges and positive interactions ..... I receive fees from any economical project i can create and manage, by creating the perfect currency for it !!!!
THAT S OUTSOURCED RESOURCES BANKING !!!!
How can you create money (or loan) by using the fractional reserve banking system without a formal "bank charter" (or whatever your local jurisdiction call it)?
ReplyDeleteWhat is your relation with the "central bank" if any?
First, I have no relation with a central bank ...... !!! Money is a reserve of value, a currency is a guarantee medium of exchange ..... Debt creation by the system of Fractional Reserve Banking is a (bad) bet on the future.... Private banks should create private currencies, not public money. At the Origin, a banker worked on a bench (banca in italian) to make currencies change and promote positive economic interactions ..... It s from this idea i developed the concept of Outsourced Resources Banking
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