Off topic- Intuit logging in to my bank account?- Conclusion (I

[Robert Heller]

At Sat, 08 Oct 2011 15:26:42 +0100 John Dablin <jdablin at ntlworld.com> wrote:

> 
> On 08/10/11 12:57, . wrote:
> > Be realistic- US banks are all fractional
> > reserve based.  So if I deposit $100 into a bank they can multiply that
> > money up to $90 while only keeping $10 in actual cash
> 
> Isn't it worse than that? I read somewhere they keep $100 and multiply 
> it up to $900.

Since when has the 'banking industry' *ever* just 'sat' on their
deposits?  'Cash' is itself worthless, except as a marker or placeholder
used to faciliate transactions -- it is far more convient to carry slips
of paper with pictures of dead presidents or living kings/queens or
whatever that hauling a goat under your arm and more convient still to
carry a slip of paper you can write a number on (a check) than a pile of fixed
denomination currency and have that slip of paper converted to a
monitary value that someone else can write a slip of paper (a check)
against.  

> 
> John Dablin
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-- 
Robert Heller             -- 978-544-6933 / heller at deepsoft.com
Deepwoods Software        -- http://www.deepsoft.com/
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