Fractional reserve banks are an invitation for state capitalism and for financial regulators to become omnipotent authorities. The problem: the deposits at these banks are pure promises of payment, not money.
Postfinance is threatened with misappropriation: center-left wants to turn it into a commercial bank that also grants loans.
The secure banking system is right under our noses. Not the state, not the politicians have to change something, but the customers have to move. Because ever since, in the financial crisis of 2008, in today’s banking crisis, all those banks were uncertain, which give loans beyond the deposits, which create book money.
2023-05-25 03:37:51
#Customers #banks #leaving #insecure #book #money #system #NZZ
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