Full reserve banking발음듣기
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Full reserve banking
67문장
100% 한국어
번역 2명 참여
출처 : 칸아카데미
번역
0%
[Narrator] I do want to clarify that the whole point that I'm showing these weaknesses in Fractional Reserve lending isn't to argue that it necessarily has to go away or that it is somehow unviable.발음듣기
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It's clearly viable, it's the system that most market economies, actually all that I know of, use today.발음듣기
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The reason why I am doing it is to show that it's not the only type of system that we really should scrutinize any systems that we have in place to realize that they aren't a law of physics, that we have to have Fractional Reserve lending.발음듣기
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That in order to have this system function there has to be engineering in place and there still are some drawbacks, the un-stability in order to combat that you need to have central bank insurance and you also have to have the central bank as a lender of last resort of reserves.발음듣기
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Bad incentives, if you were looking to invest in any other type of investment company, someone who is taking your money and investing it on your behalf, they would typically be talking about how good they are at investing money.발음듣기
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Most, when you're looking at Commercial banks that's not what they're talking about because they know that that's not what consumers care about because of the insurance there.발음듣기
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They will talk about things like how easy it is to access your money with their ATM's and their online banking, how low their fees are.발음듣기
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They won't even bring up the idea that hey, we're lending your money and we're lending it in really, really, responsible ways.발음듣기
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It is also well documented by having a Fractional Reserve lending system, it is putting a significant amount of the money creation system, essentially the checkable deposits, it's putting it in the hands of private banks as opposed to the central banking authority.발음듣기
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I'm not advocating one or the other, but I'm just showing you that this is not necessarily the only way that we would have to set up our banking system.발음듣기
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If someone puts reserve or cash dollar or federal reserve notes in their demand deposit account then the bank would just have to keep it there.발음듣기
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I want to be able to go to the bank at any moment in time and be able to take these things out then the bank would have to keep all of these reserves there.발음듣기
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In order for lending to happen the bank would have to say hey, look, you're not going to need them to have all of this on demand, why don't you keep some fraction of this on demand, maybe it's this dollar bill right over here and the rest of these, we, the bank, will literally borrow that from you.발음듣기
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When you go buy a certificate of deposit at a bank, when you put your money in a CD at the bank that's essentially what the bank is doing.발음듣기
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They're saying this is a timed deposit that this money, you are giving it to us now and then you can get it back in 6 months, or a year, or 2 years or whatever.발음듣기
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Usually the longer the duration, the longer you keep your money ... you lock your money in with them the higher the interest they would pay.발음듣기
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They'll say, look, this is on demand (writing) This is on demand, that's in a demand deposit.발음듣기
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Then this right over here, you will loan it to us, this is a time deposit. (writing) This is a time deposit.발음듣기
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This loan process would not increase the money supply, so that money could be loaned out maybe to someone else and maybe that gets deposited in another bank and maybe in a demand deposit, it gets deposited right over here in a demand deposit.발음듣기
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The difference is, is that no one can now use this perceived money right over here as money.발음듣기
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You could write a $1 check and it's backed by this $1 of reserves so you're not creating any new money.발음듣기
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The only reserves here that really can act as money or be used to back checks are now the original $3.발음듣기
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The value of this type of a system, and there are drawbacks to it, the main drawback is, that the bank is not going to be able to make any money on its demand deposits so it will probably have to charge higher fees to customers to keep their money.발음듣기
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They'll say, hey I'm safeguarding your money, I'm putting it in a vault for you, I'm making it accessible to you through checks, through ATM's so I'm going to charge you more money for me to essentially safeguard your money.발음듣기
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Right now what banks are doing and Fractional Reserves system is like, hey, we'll do all of these services for you for a lot less, sometimes even free if you keep a large enough deposit with them.발음듣기
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We're going to hold your money for you, we're going to keep it accessible on ATM, we're going to give you a bank ATM card and all of these things.발음듣기
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They're lending out a significant fraction of your money and getting interest on it and that's how they're making money.발음듣기
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The bank is saying, look, on this right over here we are doing a service for you, we are holding your money, we are keeping it on demand from wherever you want to access it and over here you are doing a service for us, you are lending us your money and then we are going to lend it out probably for higher interest so that way we can make money off of it.발음듣기
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Obviously if we were to convert to some type of a system like this, there wouldn't be as much money being created or actually no money would be created by this lending process.발음듣기
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So, the central bank or whoever the monetary authority is in the country would have to essentially print more money to have the money available to essentially be the grease in the economy.발음듣기
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Just to make it clear that this isn't a fringe idea, that this is essentially what banking was until the mid 14th Century.발음듣기
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It was the Venetian bankers who first brought up the idea of Fractional Reserve lending and there were some very mainstream banks that did full reserve lending into the 1800s.발음듣기
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As The Great Depression got longer and longer, in 1939 some very serious economists proposed a reversion back to Full Reserve banking.발음듣기
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They even articulated exactly how it would do and how it would not introduce too many interruptions to the economy.발음듣기
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Although, anything like this would be dangerous because you introducing a whole new way of doing things and you don't know exactly what the repercussions will be on the economy.발음듣기
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