Oddbean new post about login | logout I'm making the point that "fractional reserve" isn't considered theft as long as the bank is only lending out reserves against debt that their debtors are current on their loans. This is why "free banking" technically isn't engaging in theft.
Let's find out what Rothbard thinks about "free banking:" https://nakamotoinstitute.org/static/docs/the-mystery-of-banking.pdf
https://i.nostr.build/eZV5q.jpg https://i.nostr.build/aQqG6.jpg
ok, considering Rothbard calls for abolishing the Fed, there's no alternative other than a free bank system, and he makes a strong case for it. His idea of hard money was gold, but that was before Satoshi. I'm sure he would support proof of work consensus if he was alive today. https://image.nostr.build/0964494d205e801cda1e1b7b3aad07e97b9b49b2bfdee0988a3875585d629b26.jpg https://image.nostr.build/5a4e2dea4ff2a577a3f3e6b9f875dc0f701586ccbdd6ad83ed4388067ad892f5.jpg
