Fractional reserve banking is equivalent to gun controlSubmitted by Goldspan on Fri, 06/28/2013 - 18:22
It depends on who’s holding the weapon whether it’s good or bad…… the government or the public. How many of you really know that the second amendment is more about keeping the government from forming and retaining a “standing army” then “your right to bear arms”? That is the reason for a “well-regulated militia” to keep the newly formed government from having a standing army and it is the citizens responsibility and was given to them in the “right”…….the “right to keep and bear arms”…….here is the exact wording…….
A well-regulated Militia, being necessary to the security of a Free State, the right of the people to keep and bear Arms, shall not be infringed.
So the Anti- Federalist that fought for the “Bill of Right” was telling us that in order to keep the control….do not have a standing army (which they saw as a threat to our liberty). The “well-regulated militia” was to keep the threat of a standing army at bay and to protect our “Liberty”, both foreign and domestic.
The same can be said for fractional reserve banking. Only when a cartel is established by the government for the benefit (Financing government deficits) of the government is fractional reserve banking a threat to our liberty. By privatizing the profits and socializing the losses the government threatens our liberty under the guise of protecting us from the hassle and inconvenience of being responsible for our own choices about which private bank notes maintain their purchasing power, but under ANY AND ALL government banknotes we are assured of deprecation of purchasing power. (We are the slave to the master we created)If we fought as hard to keep our “right” of our property of maintaining our purchasing power like we do our guns this debate would not be necessary. Fractional reserve banking practiced in the FREE MARKET (without a cartel) by banks that must operate under the laws of ALL OTHER businesses in this country that if they cannot pay their obligations (redeem paper notes on demand for specie) they are insolvent and should go out of business. It is the responsibility of the CITIZENRY to defend the purchasing power of their property just as it is a “right” for every citizen to defend his person, his property and his family.
With a free banking system and a real bill doctrine of the fractional reserve lending we could have a system where we are not being plunder by our government……..this is how the debate should be framed.