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Thread: choose your own bank reserve percentage

  1. #1

    Default choose your own bank reserve percentage

    This is also posted to Slashdot as "slothman32"

    I just came up with a good idea.
    It's a bank, or maybe credit union, that has the client determine their own reserves percentage.
    One person could say 10% while you could say 100%.
    If you both put in $1000 then it would have to have $1100 in in reserves.

    Would this bank/CU be a good idea to remedy bank runs and insolvceny(sp)?



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  3. #2

    Default

    Quote Originally Posted by slothman View Post
    This is also posted to Slashdot as "slothman32"

    I just came up with a good idea.
    It's a bank, or maybe credit union, that has the client determine their own reserves percentage.
    One person could say 10% while you could say 100%.
    If you both put in $1000 then it would have to have $1100 in in reserves.

    Would this bank/CU be a good idea to remedy bank runs and insolvceny(sp)?
    The best way to end bank run/insolvency is to let people only get the amount actually saved at the bank as reserves. If person with 10% reserve amount goes to get their mney, they can only get 10% of it, not all of it.

    The problem lies in the bank lending 90% of it out but saying that the person can still get 100% of it out. Its fucking fraud.
    "Anarchists oppose the State because it has its very being in such aggression, namely, the expropriation of private property through taxation, the coercive exclusion of other providers of defense service from its territory, and all of the other depredations and coercions that are built upon these twin foci of invasions of individual rights." -Murray Rothbard

  4. #3

    Default

    How can't they withdraw it?
    It always has at least $1000 for the 100%er to withdraw everything.
    It just won't lend enough to go below $1K

  5. #4

    Default

    Quote Originally Posted by noxagol View Post
    The best way to end bank run/insolvency is to let people only get the amount actually saved at the bank as reserves. If person with 10% reserve amount goes to get their mney, they can only get 10% of it, not all of it.

    The problem lies in the bank lending 90% of it out but saying that the person can still get 100% of it out. Its fucking fraud.
    But it's legal fraud.

    Tax is legal theft.

    Legal is good, no?

    "A wise and frugal government, which shall restrain men from injuring one another, which shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government, and this is necessary to close the circle of our felicity." - Thomas Jefferson, First Inaugural Address

  6. #5

    Default

    Quote Originally Posted by slothman View Post
    How can't they withdraw it?
    It always has at least $1000 for the 100%er to withdraw everything.
    It just won't lend enough to go below $1K
    Right, what I'm saying, is right now its 10% but you can act like you can get it all.
    "Anarchists oppose the State because it has its very being in such aggression, namely, the expropriation of private property through taxation, the coercive exclusion of other providers of defense service from its territory, and all of the other depredations and coercions that are built upon these twin foci of invasions of individual rights." -Murray Rothbard

  7. #6

    Default

    Quote Originally Posted by noxagol View Post
    Right, what I'm saying, is right now its 10% but you can act like you can get it all.
    If there is a run Banks will just borrow from the Fed so they can pay you out and hope you will deposit it again as far as I understand.

    LOL.
    "A wise and frugal government, which shall restrain men from injuring one another, which shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government, and this is necessary to close the circle of our felicity." - Thomas Jefferson, First Inaugural Address

  8. #7

    Default

    Quote Originally Posted by TheEvilDetector View Post
    If there is a run Banks will just borrow from the Fed so they can pay you out and hope you will deposit it again as far as I understand.

    LOL.
    Yup. It's a vast ponsi scheme.
    "Anarchists oppose the State because it has its very being in such aggression, namely, the expropriation of private property through taxation, the coercive exclusion of other providers of defense service from its territory, and all of the other depredations and coercions that are built upon these twin foci of invasions of individual rights." -Murray Rothbard






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