Tuesday, 17 July 2012

Anarchists are less offended by frb than libertarians

Anarchists (unlike libertarians*) have no significant complaint against socialised fractional-reserve banking. For them it is your own responsibility to make sure the bank returns your assets. If the banks has inflated the government currency that is only a concern for the government not the customer.

*A libertarian on the other hand would or might argue that individual rights extend beyond our immediate property and that either the government has a right to protect its copyright or that the individual has a right to be protected from inflation.

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