VetOfTheSeas@discuss.online to Work Reform@lemmy.world · 25 days agoThe rich convinced us that taxing them is too complicated but everyday people can be taxed pretty easilydiscuss.onlineimagemessage-square189fedilinkarrow-up11.7Karrow-down114
arrow-up11.69Karrow-down1imageThe rich convinced us that taxing them is too complicated but everyday people can be taxed pretty easilydiscuss.onlineVetOfTheSeas@discuss.online to Work Reform@lemmy.world · 25 days agomessage-square189fedilink
minus-squareFalse@lemmy.worldlinkfedilinkarrow-up1·25 days ago But they don’t save it any more, you see. They have about one dollar for every 10 dollars deposited. The rest exists only in the banking system itself, and is not a tangible asset. Fractional reserve banking has been around for hundreds of years https://en.wikipedia.org/wiki/Fractional-reserve_banking
Fractional reserve banking has been around for hundreds of years
https://en.wikipedia.org/wiki/Fractional-reserve_banking