“Nope, sorry. They lend out less than deposits, not multiples of deposits.”
Ha, ha, funny! (suggest look-up “fractional reserve banking”)
Ha, ha, funny! (suggest look-up “fractional reserve banking”)
Good idea.
Okay, looked it up. It appears that when you have a bank with demand deposits, they only keep a fraction of the deposits in reserve, while they lend out the rest.
Since a fraction is less than multiples, it sounds like my original claim is correct.