In my opinion to a small extent it is... It gives the system some flexibility... The money supply should be regulated to what the government of the United States can absorb... What's going on now is way out of proportion.
How is it giving it flexibility and what do you mean with this:"The money supply should be regulated to what the government of the United States can absorb"
Fractional reserve banking in my opinion is the same as counterfeiting.
If you did like the banks do, you would be charged with counterfeiting. Quite funny.
"all animals are equal but some animals are more equal than others."
George Orwell - Animal Farm
Alan Greenspan: "WE CAN ALWAYS PRINT MORE MONEY "