No one's calling for that that. As I've said, if a bank lies and claims it's holding deposits in a vault, it's fraud. If not, not.
Again, my point is about how the law should be; how it would be in a libertarian society - not how it is today.But even today, although it's legally settled that a deposit is a loan, laymen don't call it a loan.
But, that said, everybody knows the banks loan out their deposits; nobody thinks the money is sitting in a vault. And if somebody really were confused about this, and were defrauded, the appropriate response would be to sue, for that particular act of fraud, not to outlaw the practice of FRB. As I said earlier, if a grocery store defrauded someone, do we therefore outlaw grocery stores? No, you just sue for that particular fraud.
You're saying that all contracts denominated in dollars should be outlawed?
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