Max, is there some reason that you are unable to discuss this topic rationally? Seriously.
Living in a State-Run World by Murray N. Rothbard [:P]### [:D]
- Why would it be better if I could out the “facts” in FRB?
- Assumption do exists when discussing FRB (especially on this forum).
- What is an Austrian fantasy and why is it a fantasy?
Conza, you’re the TruthWarrior of LRC links. 
no, what you printed is what the FSCS will pay me if my bank has a run, it is not what the bank that has a run will pay me…
so its not a description of the banks liability to me.
Kibbutz Ein-Dor
But if the contract say there is no penalty for withdrawal or closing the account, and there is an old fashioned bank run, a bank that operates through fractional reserve will not have trhe money to meet the withdrawal demands…
And yes, the bank I deal with says “Your money is available under all circumstances”
Apparently when you are faced with a contradiction on your part you get stuck on “when did this happen to you”
Can you not remove your money at any time?
i knew you had to be a jew nirgraham
If it is not there…
Go to the bank tomorrow, and see if it is there by trying to withdraw!
poor boy, confused about what your own argument is.
lets assume that there will be funds for me to withdraw tomorrow. ergo, those funds were not out on loan. ergo the bank my deposits were in were not FRB banking with them. so this strengthens your pro-FRB argument? hardly.
you’ve seen my schmeckel?!?!?
But only 10% of all deposits, outstanding liabilities are in the vault. You are paid from that 10%. Frb means this.
yes you are paid from that 10% or you arent. you arent if others have been before you. gamblebank. im glad you agree.
I just address what is actually happening and the agreements people make between each other. What the Austrians want is for the banks to say that your money is being warehoused while they are actually loaning it out. The truth is they don’t say that. What they say is we are loaning your money out and if everything works out you will get your money back but if it doesn’t you might lose your money.
If the Austrians would simply deal with what is actually being contracted as opposed to some fantasy then we can move forward.
Hasty generalization a bit? Anyway, Rothbard addressed this issue in his The Case Against the Fed.
Doesn’t it make sense to actually discuss what is happening rather than a fiction?
The Austrian fantasy is describing FRB and the contracts related to banking that just don’t exist. Look at the contract in this thread, it refutes the notion that the bank claims to have your money and there is no risk. The bank explicitly states that the customer is at risk of the bank going broke and losing the customers money.
Please show us the contract where it says there is no way the bank can ever default. If that were true why would they be paying deposit insurance?
If you loan money to someone, don’t you take on some risk of default? If you loan money to the bank…which is what your deposit contract says you are doing…then you have some default risk. Since every country has their banks backed by a printing press (the government) even the claim that you are fully insured is accurate. So for those deposits under that threshold they can actually say your money is guaranteed to be availlable and still not be committing fraud under any normal sense of the word.
Lets just have a discussion about what is actually happening.