Thursday, August 18, 2011
Full versus fractional reserve arguments on the streets of Durham, UK.
I set up a couple of anti fractional reserve banners on a street in Durham yesterday. We handed out some leaflets from Positive Money and the Money Reform Party. Both the latter are opposed to fractional reserve. There was plenty of interest.
Even though the university term does not start for a few weeks yet, three or four students who were doing economics came up to us and asked questions.
Expect full versus fractional reserve riots on the streets of North East England in the coming weeks. There were no riots here over the last two weeks. We Geordies don’t go in for your common or garden type of riot: looting and all that. But we get very worked up about more intellectual stuff.