"A well-functioning free-bnkng syst. can grow on the foundation of any base money that the public selects,and competition in the supply of base money is no less desirable than competition in the supply of bank liabilities,incl. bank notes redeemable in base money." @GeorgeSelgin
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Fellow bitcoiners, don't outright dismiss Dr. Selgin's reservations re the possible consequences of a fixed supply base money. It's a genuine debate (though I may not agree with him on this). He's a champion of liberty.
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Replying to @fernandoulrich
The Rothbardian wing of the Austrian school (Hulsmann, Murphy, Brock) consider Fractional Reserve to be fraudulent
5:19 PM - 23 Jul 2018
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