Mises Daily
Author:
Murray N. Rothbard
Online Publish Date:
[ The Case Against the Fed , Chapter 8, “Problems for the Fractional-Reserve Banker: Insolvency.” (Slightly edited for publication as a separate article.)] The fractional-reserve banker, even if he violates his contract, cannot be treated as an embezzler and a criminal; but the banker must still face the lesser, but still unwelcome fact of