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Can't find Rothbard article

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SirTenenbaum Posted: Sun, May 6 2012 12:55 AM

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I remember reading an article by Rothbard where at the end he stated that deregulating banking isn't helpful when you have fractional reserve banking and a central bank that manipulates the money supply. I think it was answering why conservatives asked why Austrians didn't necessarily favor deregulating banking per se.

Does anyone know what I'm referring to and where I can find it?

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Smiling Dave replied on Sun, May 6 2012 8:28 AM

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Perhaps you mean Chapter 80 of Making Economic Sense, where he writes:

Many free-market advocates wonder: why is it that I am a champion of free markets, privatization, and deregulation everywhere else, but not in the banking system? The answer should now be clear: Banking is not a legitimate industry, providing legitimate service, so long as it continues to be a system of fractional-reserve banking: that is, the fraudulent making of contracts that it is impossible to honor.

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