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A collection of resources for anyone interested in this alternative monetary system.
Some people dismiss Full Reserve Banking, as opposed to Fractional Reserve Banking, as a crazy system not taken seriously by any leading economists. This is entirely false. As recently as 2010, Mervyn King, former governor of the Bank of England, said:
“You might be aware that I have said publicly that I think ideas in this spirit – such as those advocated by John Kay – certainly merit serious consideration in the debate as to how we reform our financial system. I remain sympathetic to these views.”
If the governor of the Bank of England takes it seriously, then perhaps we all should. The purpose of this website is to be a starting point for anyone wishing to research this common-sense, rational and quite practical banking system. Had we had Full Reserve Banking in place all along, it is almost certain that the financial crash of 2007/2008 and its lingering aftermath would never have occurred.
April 2014
Martin Wolf, chief economics commentator at the Financial Times, declares himself a supporter of full reserves.