Re: A fractional Reserve
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It seems like this is an issue only in the US, and no other modern industrialized nations with a fiat money system have much opposition to the current system.
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I would definitely like to see an explanation for this. I am assuming that the fiat system only becomes bad when you have large-scale counterfeiting such as our government has done to monetize war debt and other wasteful spending. Do other countries have balanced budget laws or anything preventing their governments from creating whatever money they need to monetize debt?
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