Shortly after I published A Belated Reply on Fractional Reserve Banking, Jeff Molby inquired of me via email. I sent him a short response with the intent of responding more completely, here. There were a number of good comments/questions raised by other readers, and I do intend to respond to them, in turn. These things take time, however, so for now, you’ll have to content yourself with my response to Jeff. Jeff writes: I...
