There’s folks in the Muggle world who think that fractional-reserve should be avoided like the plague, too. Perhaps goblins are all Austrian.
Wouldn’t this allow others to set up competing banks, or just competing lending agencies, and make good profits?
Mostly, the Austrian response to that seems to be “Go ahead, but I’d never use them”. Apparently, full-reserve banks are a service people are willing to pay for. (And they do. They’re called “safety deposit boxes”.)
There’s folks in the Muggle world who think that fractional-reserve should be avoided like the plague, too. Perhaps goblins are all Austrian.
Wouldn’t this allow others to set up competing banks, or just competing lending agencies, and make good profits?
Mostly, the Austrian response to that seems to be “Go ahead, but I’d never use them”. Apparently, full-reserve banks are a service people are willing to pay for. (And they do. They’re called “safety deposit boxes”.)