[Toddsterpatriot]

Page 27, “When a borrower cannot repay and there are no assets which can be taken to compensate, the bank must write off that loan as a loss. However, since most of the money originally was created out of nothing and cost the bank nothing except bookkeeping overhead, there is little of tangible value that is actually lost. It is primarily a bookkeeping entry”

Do you agree with Griffin? Is there little value actually lost when a borrower defaults?

[Drago]

You need to explain why Griffin is incorrect....you are familiar with our current system of “fractional reserve banking” correct? Not saying you are wrong...just explain your side of the argument.

https://www.thebalancemoney.com/what-is-fractional-reserve-banking-4590236

https://www.investopedia.com/terms/f/fractionalreservebanking.asp

To get us started: https://www.reddit.com/r/Anarcho_Capitalism/comments/z82ew2/does_a_bank_actually_lose_money_from_a_loan/

Also the Fed set the bank reserve requirement ratio to 0% in 2020:
https://www.federalreserve.gov/monetarypolicy/reservereq.htm

[RandFan]

It’s all 1s and 0s Todd.

Fractional reserve banking.

A lot of is magicked out of thin air.

It’s a crumby system in my opinion and one that will collapse.

It always has in history if you look at the last few thousand years.

Fiat money they call it. Money out of thin air.

Griffin is not wrong. His book is a seminal book.

It’s a complex topic...

Also you might want to check out “End The Fed” by Ron Paul.