pai mei

Fractional reserve is bad , banks can make profits just from the interests
I did not say that a fixed volume of money is good, I said that volume needs to be controlled by the government
Fiat money are just as good as money backed by gold if their volume is controlled as I said above

"If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
Thomas Jefferson