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2min chapter
Is Sound Money the Answer? with George Gammon (WiM268)
The "What is Money?" Show
Is There a Contractual Relationship Between Depositors and Banks?
If depositors are choosing that fractional reserve bank on their own free will, it's the market because they're offering a higher interest rate. If I'm taking certain risks and knowing you're going to lend out my capital presumably to give me a yield of some kind, well, then I was a knowing actor in that exchange. That's a violation of contract. You know, another fascinating thought experiment is to try to think through if we could have full reserve banking without state intervention.
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