Hi Roger,

Very enjoyable commentary on the idea, especially about fractional reserve banking. Here the asset securing the increase in money supply would be the security on whatever loans/investments the banks made. I think the point of the gold standard/fixed money supply folks is to eliminate the creation of money supply as secured by nothing more than monetary authority's personal policy preferences and to have it rooted in actual preferences about real capital (i.e. K, if you are a Marxist).

With smiles,

Jason