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#286 | David Oransky; Financial Planner who says make 1% of your assets Bitcoin | CPA & CFP

The Vance Crowe Podcast

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How Does Fractional Reserve Banking Work?

In 15th century England, goldsmiths were like the original banker there. People would pay him to store their coins that he was providing a service. So over time though, those deposit slips be in circulating as cash because people know it's good for them. Some people still think this is great: Everyone's better off now we don't have to paid to store our gold. The reason people might not realize it is because you are creating money yourself.

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