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The Beauty of The Gold Standard | The Twilight of Gold Series | Episode 5 (WiM150)
The "What is Money?" Show
Is There a Fractional Reserve?
Fractional reserve is like the consequences of a lie, effectively. Whenever you run a fractional reserve, it just a festers and gets worse. The tool was invented for this one temporary purchase whas to smooth out seasonal fluctuations in the trade balance, not permanent ones. But we're living in a permanent trade balance world now,. A trade im balance world. It's no longer profitable to export gold. So people who have taken out a bunch of loans, they can't afford to refine rloans so they have to sell their inventory. Selling their inventory brings prices down. Prices coming down keeps people from having to export Gold. I there's all this kind of feedback where,
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