Comment: Deposit insurance

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Deposit insurance

Peter is absolutely right about abolishing deposit insurance. If there were no federal deposit insurance banks would have to be more cautious about how they loaned money. More importantly people would be less likely to keep so much of their money in banks, banks themselves would have to be more competitive and offer depositors higher interest rates.

The bold effort the present bank had made to control the government ... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it-Andrew Jackson