The Mystery of Banking

Review by Charles H. Rosa:

The Mystery of Banking Murray N. Rothbard Best Price: $9.00 Buy New $11.95 (as of 07:10 EDT - Details)

If you want to finally understand how the current banking system (based on the concept of the fractional reserve system – i.e., legalized counterfeiting) works, this is the book for you. Great explanation of the mechanics. Also, the book clearly demonstrates that we need to clearly delineate between loan banking (i.e., savings/investment) and deposit banking (i.e., money warehousing), and get deposit banking back to a 100% fractional reserve basis if we are ever to get out of the repeating boom-bust business cycle in which we constantly find ourselves (the world over). I would recommend this book for anyone interested in gaining an understanding of how our money system really works (including money creation in a fiat money system like what we have), how savings/investment/credit work today (as well as how they really should work), and the mechanics of modern (ill-conceived) centralized fractional reserve banking.

Review by Remo Williams:

Rothbard masterfully deciphers a subject purposefully kept mysterious by the powers-that-be and explains their nefarious intentions. This text should have been standard textbook when I took Economics in college instead of being forcefed establishment propaganda. Propaganda doesn’t stand up to scrutiny, however, when even innocent children–who are encouraged to put their savings in a banking institution–ask a simple question such as, “What if I want my money back?” Try answering that to your son or daughter.

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