RE: [lpsf-discuss] fractional reserve lending

I'm just going to say thanks to Derek for raising this issue. It has
always seemed an anomaly to me that anarchists like Rothbard regarded
fractional-reserve banking as fraudulent or somehow impermissible. They
surely don't think there should be laws against it?! I've assumed that,
so long as banks were up-front about their policies, the market would
decide whether fractional-reserve lending occurred, and at what
fraction; and my guess is that it would. But I've never heard a good
discussion of the issue.