This foolishness against fractional reserve banking needs to be crushed. That's Ron Paul-tard level craziness. Which brings up the point, why is the extreme right, the so called "libertarians" and other utopians all coming up with this lunacy at once?
Now if your goal is to make the people with money the owners of all property of all descriptions, then extreme hard money may make sense. If you want a successful economy, it does not.
Fractional reserve banking is not some new thing in the world being perpetrated as a fraud in the modern age. It was sanctioned by the kings of England 400 years ago. It was probably going on in Itally a couple centuries before that. It could have begun a 1000 years ago in Europe.
We would not today be the people we are without it.
The entire history of the industrial and capitalist part of world history is inexorably tied together with FRB. It made the modern era possible.
So, yeah, banks invent money out of thin air. What of it? They were doing so when Columbus discovered the Americas. And possibly when the Vikings did also.
Why are people suddenly so upset over it now?