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RE: The Mathematics of Fractional Reserve Banking

in #mathematics8 years ago

"The reserve is not needed. Once the agreement between who prints the money and who makes them real utilizing them is established, the monetary function can be based on anything virtual. The issue is that if who owns the privilege of seignorage decides to put everybody in debt, and this debt can't be paid back with the same means we've got exponential slavery."
Cit. Giacinto Auriti vs. Bank of Italy 1992,

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