Waching daily Apr 1 2017

Just a few words about other

things that you find in this book

besides these purely abstract inquiries about the foundations of ethics.

I have number of applied investigations on money for instance and

there I show the importance of the distinction between money as property on the one hand

and property titles, that is the tickets that show you to be the owner of a certain piece of property.

And once you introduce the distinction

between money as property and property

titles then you come to a correct

assessment of the legal quality of fractional reserve reserve banking.

Fractional reserve banking is nothing else but and an increase in the number of property titles

without an increase in the quantity of property in existence,

which in all other cases would be of course considered to be a fraudulent thing to do

if you increase the number of titles to a car without having additional cars available.

From which it really follows that practices like this should be considered illegal.