Dirty South September Initiatives Thread

[Brandon H]

I suggest we look at reactivation of the Southeast Deficit Package Initiative:
https://uselectionatlas.org/AFEWIKI/index.php/Southeast_Deficit_Package_Initiative

End to Fractional Reserve Banking Act
All banks operating in the Dirty South shall be required to have 100% reserves for all demand deposits

I would suggest changing this to something along the lines of banks shall have 1 year (maybe longer) to come into compliance. Maybe something else like they would have 6 months to be at least 50%. At a minimum specify a time line for them to come into compliance.

[Brandon H]

In the article, Rothbard mentions something like "Suppose I have my own bank" instead of the federal reserve. We had an initiative that was ruled unconstitutional that would have had the Southeast using its own currency. As long as the region has to operate using federal reserve notes, I'm not sure we could eliminate FRB without putting us at a disadvantage compared to other regions.

I do have a contact that's an economics professor at Loyola. I'm tempted to ask him what he thinks would happen if this were done.

[Brandon H]

In the article, Rothbard mentions something like "Suppose I have my own bank" instead of the federal reserve. We had an initiative that was ruled unconstitutional that would have had the Southeast using its own currency. As long as the region has to operate using federal reserve notes, I'm not sure we could eliminate FRB without putting us at a disadvantage compared to other regions.

I do have a contact that's an economics professor at Loyola. I'm tempted to ask him what he thinks would happen if this were done.

I suspect that economist would agree that fractional reserve banking is bad
http://www.lewrockwell.com/block/block110.html
http://www.lewrockwell.com/block/block111.html

I have no doubt FRC is bad or that Dr. Block would say it's bad. What would happen if only banks in one state could not use FRC while the others could. Not to mention if anything bad happens to the banks as a result of it, the federal government would just bail them out anyway. If we are going to end FRC, it would have to be done at the federal rather than regional level.