[Swing_Thought]

You know we had fractional reserve banking before the Fed was created, don't you?

True. And there were bank failures and booms and busts too. I personally don't have a problem with banks employing fractional reserve banking in a free market banking system, though I doubt I'd use a bank that practiced fractional reserve banking given the choice.

I'd never argue with you that a free market banking system with a gold standard would be perfect. Just that it'd be an improvement on the centrally planned fiat money system we have today.

[Toddsterpatriot]

And there were bank failures and booms and busts too.

And the failures were much more serious and the busts were deeper and longer lasting.

though I doubt I'd use a bank that practiced fractional reserve banking given the choice.

How would your preferred bank work?

Just that it'd be an improvement on the centrally planned fiat money system we have today.

How would long term deflation be better than what we have now?