Sun. 10/03/21 19:15 EDT
.post #16
While my scheme seems too cumbersome to be workable “back then,” it doesn’t seem at all cumbersome given computers, cash cards, and a world-wide network of instantaneous data transmission.
I think one of the theories White advances is that fractional-reserve banking emerged as a solution to the problem posed by warehouse storage notes…but White doesn’t really know, either.
Perhaps the advent of this technology will allow full-reserve banking to successfully compete with fractional-reserve banking.