That's a lot less than the amount of money out there but they always had fractional reserve of banking anyway. 这比流通的金钱少的多,但是他们总是有部分准备金银行制度。
Fractional Reserve Banking is a system of banking that essentially allows banks to lend out money that they don't actually possess. 部分准备金银行体系是指允许银行向外进行借贷业务,而这些钱并非银行所有。
The issuing bank would be driven out of business if it didn 't.They all were using fractional reserve banking so if you have a big player that's demanding gold from you you're in trouble. 发行纸币的银行将会被驱逐出银行业,如果它不这么做,它们都采取,部分准备金银行制度,所以如果你有一个对手,一直向你索求金子,你会陷入大麻烦的。
Those who dislike fractional reserve banking should welcome that result: it would raise the fraction. 那些不喜欢银行业“部分准备金制度”的人们应该会欢迎这种结果:它将提高银行的“部分准备金”。
Fractional reserve banking, as it was called, was possible if most of the banks engaged in this practice together, so it did not much matter if money created by one bank was deposited with another. 如果大多数银行一起这样做,所谓的部分准备金银行制度就成为可能。因此,如果一家银行创造的货币成为另一家银行的存款的话,那就不会产生很大的影响。
On the free market right people argue that if only we went back to the gold standard or ended fractional reserve banking, all would be well. I question such claims. 说起自由市场,右翼人士声称,如果我们回到金本位制、或者结束银行部分准备金制度,那就万事大吉了。我对这些说法表示怀疑。