In the United States, there are once again TV commercials advertising Adjustable Rate Mortgages (ARMs) for residential real estate. Today, I saw one from Quicken Loans promoted with the tagline “why pay more in interest charges now just to know what rate you will have in 2018?” (they are offering a 7-year “teaser” rate and […]
Tag Archive for: fractional reserve
There is an old erroneous view of fractional reserve banking. “Naturally, all fractionally reserved banks are de facto insolvent at all times…” The Acting Man blog is usually very good, but it published an article by Pater Tenebrarum containing this comment (http://www.acting-man.com/?p=6781). If there is a weakness in Austrian School thinking surely fractional reserve banking […]
I gave this talk at the Chicago Objectivist Society MiniCon Sep 4, 2011. Here is the full set of 9 videos on youtube for my presentation plus Q&A at the end, posted on this site to archive the links. Irredeemable currency vs gold – 1_9 introduction.wmv Irredeemable currency vs gold – 2_9 the origin of […]
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