Tag Archives: fractional reserve banking

The Magic of Fractional Reserve Banking

Jeremiah Project Posted on by

Primarily because people left their gold with the goldsmiths for safekeeping, they were to become the the first bankers in early England. The first paper money were “Receipts” for those gold deposits representing the gold in storage. These were easier to carry around, and safer, thus making paper money more popular. Eventually the goldsmiths realized that few people ever came back to trade in their “receipts” for the gold at any one time. It was then that Goldsmiths realized they … Continue reading →

Just Weights and Measures

Jeremiah Project Posted on by

Ever since the earliest recordings of history, there have been individuals that have sought to gain an unfair advantage over others in many aspects of life, especially in the area of commerce. One recent example is where the National Milk Producers Federation settled a lawsuit alleging antitrust conspiracy in slaughtering dairy cow herds, reducing herd sizes causing scarcity to justify higher product prices. Now the defendants (Dairy Farmers of America, Inc., Land O’ Lakes Inc., Dairylea Cooperative Inc. and Agri-Mark … Continue reading →