/sci/ - Science & Math

“Whoever has or is given the authority to create credit has the authority to extract wealth from the economy by that same mechanism. Moreover, there is no meaningful
distinction between fractional reserve banking and money expansion. The analogy of counterfeiting looms large as the mathematics reveals. In many ways the only difference between illegal counterfeiting and legal privately‐owned money expansion is that gains by the recipient in the latter case are officially sanctioned, not indiscriminate, and limited based on the expansion rate. Therefore, paradoxically, privately‐owned money expansion is basically equivalent to `legalized counterfeiting,ʹ i.e. a surreptitious statesanctioned
plundering of money holder wealth by private bankers!

Vladimir Z. Nuri