Economist Larry White at George Mason University submitted a thought-provoking written testimony the other day. Discussing the issue of fractional reserve banking before the House Subcommittee on Domestic Monetary Policy and Technology, he made the following claim:
For payment by account transfer, FRB offers a more economic way of providing payment services. A money warehouse…
Last week, Dr. Jeffrey Herbener (a professor of mine at Grove City College) testified before Congress on the issue of the Federal Reserve and sound money. Among many things, here is one particular statement he made in his written testimony that often proves quite contentious:
“The primary step in monetary reform, then, is to turn…
