100% Reserve banking vs Government Issued Banking

Maybe this should be in the Global Meltdown forum but I dont have the post count to post threads outside of the intro section. I just spilled my guts out (sort of) explaining the situation I face as a college student trying to educate my family on these issues with futility, and I continue to welcome debate and discussion in that arena.

In the meantime, I saw a thread on mises.org that caught my attention. This will basically be a retread of that thread that I would like to see expanded on further. The thread only got a few replies. If the mods see fit to move this thread for more lively discussion I wont have a problem with it.

Here goes:
mises.org...

I recently read a debate between Edward Griffin (author of The Creature From Jekyll Island) and Bill Still (creator of the documentaries, The Money Masters, and The Secret of Oz). The debate concered two polar opposite ideas:

1. Using an economic system based on 100% Gold Reserves (Griffin)

or

2 Using an economic system based on a Government issued medium of exchange. (Still)

Griffin's argument www.freedomforceinternational.org...

Stills rebuttle www.secretofoz.com...:response-to-ed-griffin

I would greatly appreciate it if I could read what people from this forum think. I'm undecided on where I stand when it comes to the question of "What happens when the international bankers own most of the gold? Couldn't they manipulate the price, thereby still keep the common man in slavery?"

For some clarification, G. Edward Griffin authored the book The Creature from Jekyll Island, and Bill Still was featured in the two films The Money Masters and The Secret of Oz.

Both make compelling arguments for their respective solutions.

An alternative to this is a zero reserve. Why would reserves be needed in the first place since money is created out of thin air?

Public credit is the solution. You go to a public institution and borrow money the same way you go to a public libray to borrow a book. Return it when you're finished.

This wouldn't be inflationary, because the money goes back where it came from. The difference is that money would always be available to anyone who demonstrates credit-worthiness regardless of the market or any artificial manipulation of interest rates.

This would work on a zero-interest principle, since compound interest eventually devours everything. The employees of the institution would get their paychecks either through a fee paid by the borrower, or have the money created for them to do their jobs.

Instead of banks being beholden to their stockholders, and always in business for a profit, they would be created to serve the interests of the public at large.

This is a plan proposed by Ellen Brown (Author of Web of Debt) which I think is better than anything else I've heard.

Originally posted by Vinterzorg
An alternative to this is a zero reserve. Why would reserves be needed in the first place since money is created out of thin air?

Public credit is the solution. You go to a public institution and borrow money the same way you go to a public libray to borrow a book. Return it when you're finished.

This wouldn't be inflationary, because the money goes back where it came from. The difference is that money would always be available to anyone who demonstrates credit-worthiness regardless of the market or any artificial manipulation of interest rates.

This would work on a zero-interest principle, since compound interest eventually devours everything. The employees of the institution would get their paychecks either through a fee paid by the borrower, or have the money created for them to do their jobs.

Instead of banks being beholden to their stockholders, and always in business for a profit, they would be created to serve the interests of the public at large.

This is a plan proposed by Ellen Brown (Author of Web of Debt) which I think is better than anything else I've heard.

edit on 10-3-2011 by Vinterzorg because: additional info

correct me if I am wrong, but is that any different from the solution proposed by the film "Money as Debt", or "The Money Masters/Secret of Oz" by Bill Still?

*OOPS* Repeat Post

The so called Fractional Reserve is in effect letting banks loan 10x what they possess.
video.google.com...
a handy video
The 100% Reserve banking is number two.
Number one is Government printing of the money supply.
In this fellows plan to eliminate not only the national debt like
Jackson did but to make banks a little less stuffy.