I would never put my precious metals in a bank… makes it too easy for the government to steal.
Did US Steel forcibly prevent everyone else from entering the steel market?
So what do you think caused all those bank runs?
Not to my knowledge, though there was a heavy steel tariff in place preventing people from buying foreign steel goods. What is your point? I intended my point about them being a ‘free market monopoly’ to be taken as a sarcastic quip.
Um, like I said, the business cycle policy enacted under LM Shaw which artificially inflated the loan market at that time.
My point was that the very term “free-market monopoly” is nonsensical. Maybe you already agree with that though.
And that has nothing whatsoever to do with fractional-reserve banking? I’d appreciate some elaboration from you here.