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Jim__

(15,231 posts)

9. But we don't usually pay them to hold our deposits.

Reply to tama (Reply #3)

Sun Dec 16, 2012, 11:25 PM

Dec 2012

But, say you have given me $200 of yours for me to hold. Suppose my friend offers me $220 if I lend him $200 today and he promises to return it by tomorrow. Is it illegal for me to lend him your $200? Now, if he doesn't give it back to me, I have a problem when you ask for your money back; but, have I done anything illegal?

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Icelandic Parliament investigating Full Reserve Banking [View all] tama Dec 2012 OP

I always wondered how this would work in a modern economy bossy22 Dec 2012 #1

Why? tama Dec 2012 #4

exactly bossy22 Dec 2012 #8

This message was self-deleted by its author tama Dec 2012 #13

Does full reserve banking imply that we pay banks to hold onto our money? Jim__ Dec 2012 #2

We already pay banks for various services and interest for loans tama Dec 2012 #3

But we don't usually pay them to hold our deposits. Jim__ Dec 2012 #9

No, nothing illegal tama Dec 2012 #14

it's clear to me that you don't understand modern banking bossy22 Dec 2012 #10

What we have in this country Dickster Dec 2012 #5

umm....you just described fractional reserve banking bossy22 Dec 2012 #11

Excellent! hunter Dec 2012 #6

As long as I' here Dickster Dec 2012 #7

you do realize that by law the interest earned on federal reserve assets bossy22 Dec 2012 #12