MARKETS DAILY: Fractional Reserve Banking Is a Fraud (but It's Genius)
CoinDesk Podcast Network
CoinDesk
4.7 • 698 Ratings
🗓️ 13 May 2023
⏱️ 5 minutes
🧾️ Download transcript
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| 0:43.9 | Wondery, UK. That's audible.com slash Wondery UK. |
| 0:58.9 | It's Saturday, May 13th, 20203, and this is Markets Daily from CoinDesk. |
| 1:01.7 | I'm Adrian Blessed here again with Adam B. Levine for your weekend story. |
| 1:06.4 | On today's show, we're taking a look at the inherently risky nature of today's financial system and why the U.S. government has blocked safer alternatives. |
| 1:10.0 | And just a reminder, CoinDisc is a news source and does not provide investment advice. |
| 1:18.3 | For today's featured story, we have an opinion piece from CoinDesk, Storch, Kulutis. |
| 1:22.4 | Our piece today is entitled, A Fractional Reserve Banking is a fraud, but it's genius. |
| 1:27.3 | The recent buyout of First Republic, the second largest bank failure in the U.S. entitled, A Fractional Reserve Banking is a fraud, but it's genius. |
| 1:27.5 | The recent buyout of First Republic, the second largest bank failure in the U.S. ever, |
| 1:32.1 | has raised serious questions about solvency and liquidity across the global banking system. |
| 1:36.6 | Banks are supposed to be stodgy operations. |
| 1:39.1 | Customers deposit money into a bank account for safekeeping and withdraw it whenever they want |
| 1:42.9 | to use it, and by and large, |
... |
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