Safety In Banking

By Alasdair Macleod – Re-Blogged From

There was a time when banks acted as custodians of their customers’ money. Indeed, keeping a person’s money and using it as if it belonged to you without their agreement is fraud in common law. A banking license legally exempts banks from charges of criminality in pursuing the normal course of fractional reserve banking business, by making it clear that you, the customer, agree to being a creditor of the bank instead of the bank acting as custodian for your money.

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The End of Central Banking

By Philip Barton – Re-Blogged From

Central banks are in trouble. The belief that a committee of academics can manage an economy is wilting as more and more question their role. The trillion euro quantitative easing and absurdly low and falling interest rates smack of desperate times and desperation.The vast injection of make-believe money will act as a great boost to the make-believe economy noted in official statistics.

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