Review by Charles H. Rosa:
If you want to finally understand how the current banking system
(based on the concept of the fractional reserve system – i.e., legalized
counterfeiting) works, this is the book for you. Great explanation of the
mechanics. Also, the book clearly demonstrates that we need to
clearly delineate between loan banking (i.e., savings/investment) and deposit
banking (i.e., money warehousing), and get deposit banking back to a 100%
fractional reserve basis if we are ever to get out of the repeating boom-bust
business cycle in which we constantly find ourselves (the world over). I would
recommend this book for anyone interested in gaining an understanding of how
our money system really works (including money creation in a fiat money system
like what we have), how savings/investment/credit work today (as well as how
they really should work), and the mechanics of modern (ill-conceived)
centralized fractional reserve banking.
Review by Remo Williams:
Rothbard masterfully deciphers a subject purposefully kept
mysterious by the powers-that-be and explains their nefarious intentions. This text should have been standard
textbook when I took Economics in college instead of being forcefed
establishment propaganda. Propaganda doesn’t stand up to scrutiny, however,
when even innocent children–who are encouraged to put their savings in a
banking institution–ask a simple question such as, “What if I want my money
back?” Try answering that to your son or daughter.
Reprinted from Amazon.com.
