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CoinDesk Podcast Network

MARKETS DAILY: Fractional Reserve Banking Is a Fraud (but It's Genius)

CoinDesk Podcast Network

CoinDesk

Business News, Daily News, News, Tech News

4.7698 Ratings

🗓️ 13 May 2023

⏱️ 5 minutes

🧾️ Download transcript

Summary

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, courtesy of George Kaloudis, CoinDesk's senior research analyst and columnist. Read the full story here. - This episode was edited by Ryan Huntington and produced by Adrian Blust with original music by Doc Blust & Colin Mealey. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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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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