Except the Kirtland bank never was backed with sufficient assets.
BB: No bank does. You get a large enough run, and it folds. They didn’t have a national deposit insurance in those days.
You guys are pathetic, and I have work to do. You are grasping at straws in the dark.
Goodbye for now.
FC:And where pray tell did he get those assets?
BB: By working for a living, like everyone else.
Umm, the Kirtland bank went belly up for $100,000. Joseph Smith tried to get a salary from his congregation for $1,100 A YEAR, which would have been good money, but he was turned down. Smith obviously had zero ability to pay anyone anything if it did not come from his congregation.
And pray tell, what did he supposedly do for a living? Was he a capenter on the side?
FC:Except the Kirtland bank never was backed with sufficient assets.
BB: No bank does. You get a large enough run, and it folds. They didn’t have a national deposit insurance in those days.
You are just not getting it, even back then they knew you had to have assets to back your currency. The Kirtland bank was backed with thin air, it was a scam. Numerous leaders apostasized at Far West on this issue because they weren’t idiots.