Fractional reserve banking

Here are just a few quotes, and only from his early work, your favorite - Money and Credit:

The basic conception of Peel’s Act ought to be restated

and more completely implemented than it was in the England of

his time by including the issue of credit in the form ofbank balances

within the legislative prohibition. (Money & Credit, pp 408).

'It would be a mistake to assume that the modern organization

of exchange is bound to continue to exist. It carries within itself

the germ of its own destruction; the development of the fiduciary

medium must necessarily lead to its breakdown. (Money and Credit pp 409)

No bank must be permitted to expand the total

amount of its deposits subject to cheque or the balance of such

deposits of any individual customer, be he a private citizen or the

U.S. Treasury, otherwise than by receiving cash deposits in legaltender

bank-notes from the public or by receiving a cheque payable

by another domestic bank subject to the same limitations. This

means a rigid 100 per cent reserve for all future deposits, i.e. all

deposits not already in existence on the first day of the reform. (Money & Credit pp 448)

There are countless more examples. I don’t want to work so hard for you.