Do you agree with Griffin? Is there little value actually lost when a borrower defaults?
You need to explain why Griffin is incorrect....you are familiar with our current system of “fractional reserve banking” correct? Not saying you are wrong...just explain your side of the argument.
https://www.thebalancemoney.com/what-is-fractional-reserve-banking-4590236
https://www.investopedia.com/terms/f/fractionalreservebanking.asp
To get us started: https://www.reddit.com/r/Anarcho_Capitalism/comments/z82ew2/does_a_bank_actually_lose_money_from_a_loan/
Also the Fed set the bank reserve requirement ratio to 0% in 2020:
https://www.federalreserve.gov/monetarypolicy/reservereq.htm
It’s all 1s and 0s Todd.
Fractional reserve banking.
A lot of is magicked out of thin air.
It’s a crumby system in my opinion and one that will collapse.
It always has in history if you look at the last few thousand years.
Fiat money they call it. Money out of thin air.
Griffin is not wrong. His book is a seminal book.
It’s a complex topic...
Also you might want to check out “End The Fed” by Ron Paul.