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6min chapter
Centralized Law vs Decentralized Law with Stephan Kinsella (WiM099)
The "What is Money?" Show
What Is an Irregular Deposit?
A regular deposit means i still maintain ownership. Someone just is holding it for me, like i give it to the bank to put on their mountain of gold coins and to commingle with the rest. But there's a one to one correspondence between all their outstanding customers depositors and all the gold that they hold. Like there's no fraction of e bank ind they can't lend them out. So when i loan you my coins, i get interest because the bank is loaning them out at a higher interest rate,. That's called credit intermediation. And i think there isa there's a rule for that right now. I think that’s what thisbi coin a lending is
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