Tag: bullionmax.com

MONEY: Fractional Reserve Banking is troublesome at best; fraud at worst

Published on by reinkefjLeave a comment

https://bullionmax.com/blog/news/gold-past-present-future?&utm_campaign=campaign%3A+2023-02-26-weeklybulletin+%2863f52e64bdd59f001de41acb%29&utm_medium=email&utm_source=omnisend&omnisendContactID=63557c12377bc800196f0944

 bullionmax.com
The Past, Present and Future of Gold
Posted on February 16, 2023

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Amsterdam had the first truly centralized monetary entity, as it opened shop in 1609, but the Bank of Amsterdam lasted longer without trouble, having “only” started collapsing in 1790. In essence, the BoA took our love of growth a little too seriously. It expanded from being mostly a storage intermediary for gold and silver to a lender. And, when it turned out it had nowhere near the gold and silver holdings it should to lend the amounts it has, a crisis hit… until banking was made very modern once again, with banks being able to lend far and away in excess of what they have.

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It seems that a “bank” mixes up a “100% reserve custodian” and “fractional reserve lender”.

“We, The Sheeple” need to insist that the Gooferment differentiate between the two types of entities.

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INTERESTING: History is unreliable; the further back in history we go, the more unreliable it is

Published on by reinkefjLeave a comment

https://bullionmax.com/blog/news/gold-past-present-future?&utm_campaign=campaign%3A+2023-02-26-weeklybulletin+%2863f52e64bdd59f001de41acb%29&utm_medium=email&utm_source=omnisend&omnisendContactID=63557c12377bc800196f0944

 bullionmax.com
The Past, Present and Future of Gold
Posted on February 16, 2023

*** begin quote ***

A few things about history have to be said before delving deep into it. We’ll avoid Napoleon’s quote and instead say that history should be taken with a grain of salt. And we generally have a worse idea of what transpired the further we go back, especially when talking centuries.

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This really casts doubt on everything we think we “know” as history.  What is a metric for the degradation in “history”?  Is it 1% per year or 5%?  Or does it vary with the topic being remembered?

Argh!

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