Gene Callahan on Fractional Reverse Banking and Gift Certificates

A short, but thoughtful, post here from Gene Callahan criticising Hoppe, Hülsmann, and Block (1998) on their opposition to fractional reserve banking:

Gene Callahan, “If Fractional Reserve Banking Is Fraudulent, Then So Is...,” July 13, 2012.

In short, he notes how what we could call “fractional reserve gift certificating,” a normal business practice, would also be immoral by the logic of Hoppe, Hülsmann, and Block’s argument.


BIBLIOGRAPHY

Hoppe, Hans-Hermann, Hülsmann, Jörg Guido and Walter Block. 1998. “Against Fiduciary Media,” Quarterly Journal of Austrian Economics 1.1: 19-50.