View Poll Results: Which do you choose

Voters
31. You may not vote on this poll
  • Free Banking

    29 93.55%
  • Fractional Reserve Banking

    2 6.45%
Results 1 to 28 of 28

Thread: Free Banking vs Full Reserve Banking

  1. #1

    Free Banking vs Full Reserve Banking

    Hmmm...



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  3. #2
    I think you'll need to amend the poll... Title says: "Free Banking vs Full Reserve Banking"

    Poll says: Free Banking vs. Fractional Reserve Banking.
    “I will be as harsh as truth, and uncompromising as justice... I am in earnest, I will not equivocate, I will not excuse, I will not retreat a single inch, and I will be heard.” ~ William Lloyd Garrison

    Quote Originally Posted by TGGRV View Post
    Conza, why do you even bother? lol.
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  4. #3

  5. #4
    What's "free banking?"

  6. #5
    Quote Originally Posted by Conza88 View Post
    I think you'll need to amend the poll... Title says: "Free Banking vs Full Reserve Banking"

    Poll says: Free Banking vs. Fractional Reserve Banking.
    The Thread Maker made a mistake.

  7. #6
    Quote Originally Posted by Thread_Maker View Post
    The Thread Maker made a mistake.
    I think your paul krugman thread was a mistake as well.

  8. #7
    Well, I can't vote on this because the two selections are one in the same.

    But if it was between Free Banking (which is Fractional Reserve Free Banking) vs Full Reserve enforced banking (this would *have* to be state mandated, btw)... then I would certainly pick 'Free Banking'.

    Free Banking is fractional reserve banking, no regulations, no legal tender laws, no government / FDIC insurance, no central bank, etc. It is as it implies, absolutely 100% free market banking.

    FRFB (fractional reserve free banking) is not only supported by Austrian Theory (and great austrian economists such as Mises, Hayek, Horwitz, Selgin, White, among others like Peter Schiff), but has also been the free market preference in free market times. However, there is absolutely *zero* shred of evidence that free(r) markets have selected a full reserve banking system over a competing fractional reserve free banking system.

    In principle, fractional reserve banking is no different than a parking lot which rents out more tickets than it has spaces, on the assumption that not everyone will park there at once. This is a maximization of profit and thus most efficient use of available resources and allocating them effectively, most effectively according to the demands of consumers.
    "If men are good, then they need no rulers. If men are bad, then governments of men, composed of men, will also be bad - and probably worse, due to the State's amplification of coercive power." - Ozarkia

    "Big Brother is watching. So are we." - WikiLeaks

    Laissez-nous faire, laissez-nous passer. Le monde va de lui meme.

  9. #8
    Free banking, if only because free competition must lead to (near) full-reserve banking, as the Austrian school shows. (I assume "full-reserve banking" here refers to a government mandate). I also assume the second poll option is a typo.



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  11. #9
    Free banking doesn't necessarily imply fractional reserves. You can have a "free bank" that runs on full reserves. Only banks better fulfill their obligations when called upon.
    "It is not enough these days to simply question authority. You must speak with it, too."
    -Taylor Mali


    "It does not take a majority to prevail, but rather an irate, tireless minority keen on setting brushfires of freedom in the minds of men."
    -Samuel Adams

  12. #10

  13. #11
    "Fractional Reserve Banking vs Free Banking"

    It looks like Full Reserve Banking will lose in the poll no matter what, for some reason.

  14. #12
    Asking the wrong crowd. Fractional Reserve Banking is known to just about every member here to be a tool of Money Manipulation to deprive people of their property, by leveraging something that was created from nothing against things of real value.
    1776 > 1984

    The FAILURE of the United States Government to operate and maintain an
    Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.

    The Elimination of Privacy is the Architecture of Genocide

    Belief, Money, and Violence are the three ways all people are controlled

    Quote Originally Posted by Zippyjuan View Post
    Our central bank is not privately owned.

  15. #13
    Basically three different concepts. Free banking has no reserve requirements- they are voluntary. A fractional reserve bank is required to keep at least a minimum specified percent of deposits on hand (or on deposit with the Fed) they are not allowed to lend out. A full reserve bank is required to keep 100% of deposits on hand which makes lending dififcult.

    http://en.wikipedia.org/wiki/Full-reserve_banking
    Full-reserve banking, also known as 100% reserve banking, is a banking practice in which the full amount of each depositor's funds are kept in reserve, as cash or other highly liquid assets. In other words, funds deposited are not lent out by the bank as long as the depositor retains the legal right to withdraw the funds on demand.

  16. #14
    I'm not really fond of any kind of banking.

    Full Reserve would be okay, then it is basically just a warehouse for your currency and not the big scam it is today. I dislike fractional reserve whether it is "free" or the manipulated nonsense that it is today.
    Last edited by ChaosControl; 08-09-2011 at 11:45 AM.

  17. #15
    Hayekian Free banking ftw.

    With government out of the way of the monetary system there is no reason to enforce reserve requirements.
    -Molinarian-

  18. #16
    This thread really needs to be deleted; and re-done again.
    “I will be as harsh as truth, and uncompromising as justice... I am in earnest, I will not equivocate, I will not excuse, I will not retreat a single inch, and I will be heard.” ~ William Lloyd Garrison

    Quote Originally Posted by TGGRV View Post
    Conza, why do you even bother? lol.
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  20. #17
    Quote Originally Posted by josh b View Post
    Hayekian Free banking ftw.

    With government out of the way of the monetary system there is no reason to enforce reserve requirements.
    Ding Ding we have a winner.
    Too bad our elected officials are not as aggressively trying to reduce the federal deficit as they are trying to strip us of our constitutional rights.

  21. #18
    "Sound money and free banking are not impossible; they are merely illegal. That is why money must be deregulated…. In freedom, the money and banking industry can create sound and honest currencies, just as other free industries can provide efficient and reliable products." -Hans Sennholz

  22. #19
    Quote Originally Posted by Koz View Post
    Ding Ding we have a winner.
    No, not a winner.

    Why? Start a new proper thread and I'll bother to continue the discussion .
    “I will be as harsh as truth, and uncompromising as justice... I am in earnest, I will not equivocate, I will not excuse, I will not retreat a single inch, and I will be heard.” ~ William Lloyd Garrison

    Quote Originally Posted by TGGRV View Post
    Conza, why do you even bother? lol.
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  23. #20
    Quote Originally Posted by Conza88 View Post
    This thread really needs to be deleted; and re-done again.
    Or it could just be deleted, and the search feature used.

    I don't think, at this point, anyone is going to change their minds about where they stand on banking models anyway.
    Quote Originally Posted by timosman View Post
    This is getting silly.
    Quote Originally Posted by Swordsmyth View Post
    It started silly.
    T.S. Eliot's The Hollow Men

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    I part ways with "libertarianism" when it transitions from ideology grounded in logic into self-defeating autism for the sake of ideological purity.

  24. #21

  25. #22
    Quote Originally Posted by nobody's_hero View Post
    Or it could just be deleted, and the search feature used.

    I don't think, at this point, anyone is going to change their minds about where they stand on banking models anyway.
    Haha yes. Well I'd like to hope they'd be open to reason & logic, to see where they've gone wrong
    “I will be as harsh as truth, and uncompromising as justice... I am in earnest, I will not equivocate, I will not excuse, I will not retreat a single inch, and I will be heard.” ~ William Lloyd Garrison

    Quote Originally Posted by TGGRV View Post
    Conza, why do you even bother? lol.
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  26. #23
    Quote Originally Posted by Conza88 View Post
    Haha yes. Well I'd like to hope they'd be open to reason & logic, to see where they've gone wrong
    I really don't think as many as you think on this board have been corrupted by Rothbard's erroneous claims about FRFB.

    That said, in my experience, those who argue for 100% full reserve banking and against FRFB are quite crankish.

    It's almost like a hard line socialist debating a hard line capitalist. The debate for them is emotional, not rational.
    "If men are good, then they need no rulers. If men are bad, then governments of men, composed of men, will also be bad - and probably worse, due to the State's amplification of coercive power." - Ozarkia

    "Big Brother is watching. So are we." - WikiLeaks

    Laissez-nous faire, laissez-nous passer. Le monde va de lui meme.

  27. #24
    Quote Originally Posted by Sentient Void View Post
    I really don't think as many as you think on this board have been corrupted by Rothbard's erroneous claims about FRFB.
    Interesting... pity the poll isn't legit, then we'd know? Haha ... because atm it's just you and someone else?

    Quote Originally Posted by Sentient Void View Post
    That said, in my experience, those who argue for 100% full reserve banking and against FRFB are quite crankish.

    It's almost like a hard line socialist debating a hard line capitalist. The debate for them is emotional, not rational.
    Guess it's good I use mostly Hoppe then?


    Threadmarker, go make a thread.
    Last edited by Conza88; 08-10-2011 at 10:01 AM.
    “I will be as harsh as truth, and uncompromising as justice... I am in earnest, I will not equivocate, I will not excuse, I will not retreat a single inch, and I will be heard.” ~ William Lloyd Garrison

    Quote Originally Posted by TGGRV View Post
    Conza, why do you even bother? lol.
    Worthy Threads:



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  29. #25
    ..
    Last edited by Jace; 09-20-2011 at 11:04 AM.

  30. #26
    Quote Originally Posted by Jace View Post
    Ah, but the fractional reserve bankers used their wealth to create the central banking system. It is their creation that serves their interests at our expense.
    This is not any more of an argument against a fractional reserve free banking industry than a monopoly on public utilities of telecom companies or electricity is an argument against a freely competitive telecom or electricity industry.
    "If men are good, then they need no rulers. If men are bad, then governments of men, composed of men, will also be bad - and probably worse, due to the State's amplification of coercive power." - Ozarkia

    "Big Brother is watching. So are we." - WikiLeaks

    Laissez-nous faire, laissez-nous passer. Le monde va de lui meme.

  31. #27
    Quote Originally Posted by Conza88 View Post
    Interesting... pity the poll isn't legit, then we'd know? Haha ... because atm it's just you and someone else?
    In this thread, yes... but in the numerous debates on this forum I've engaged in, a pretty good portion of visitors/posters are actually FRFB supporters - especially the more economically-minded ones, I've noticed.

    Guess it's good I use mostly Hoppe then?

    Nice find, dude. I actually always wondered what Hoppe's position on FRFB vs full reserve banking was... but never took the time to check it out... I'll have to watch this later to see what his position on it is.

    Threadmarker, go make a thread.
    Yes, absolutely.
    "If men are good, then they need no rulers. If men are bad, then governments of men, composed of men, will also be bad - and probably worse, due to the State's amplification of coercive power." - Ozarkia

    "Big Brother is watching. So are we." - WikiLeaks

    Laissez-nous faire, laissez-nous passer. Le monde va de lui meme.

  32. #28
    Quote Originally Posted by Sentient Void View Post
    ...

    Nice find, dude. I actually always wondered what Hoppe's position on FRFB vs full reserve banking was... but never took the time to check it out... I'll have to watch this later to see what his position on it is...
    You mentioned in another thread that you communicate with Stephan Kinsella frequently. I've noticed that although Kinsella doesn't consider FRB to be fraud, he doesn't consider it “economically viable, sound, or needed”, and more than once I've seen him cite Hoppe’s papers as a source for the "explanation" for why. One such time is in the “comment” part following this article, at the end of his second response. Just bringing this to your attention.
    Last edited by robert68; 08-12-2011 at 11:25 AM.



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