An important argument against fractional reserve, missing from the above article, is that under the existing bank system, banks do something which is classed as fraudulent or illegal when any other financial institution does it (e.g. mutual funds, private pension schemes, etc). And that is to accept depositor / investors' money, lend on that money, while telling depositors their money is totally safe, which of course it isn't and for the simple reason that it's been loaned on!

For a more detailed consideration of that point, see:

https://medium.com/@ralph_47183/our-bank-system-is-fraudulent-and-risky…