Reddit reviews Money, Bank Credit, and Economic Cycles Pocket Edition

First off, do you define government as an entity that acts or an organization made up individuals with competing interests who act? As for myself, I see governments as being made up of people who have interests that influence their decisions.

Nevertheless, the article states that a tier system was set up on bankers' salaries. Bankers can still accrue exorbitant amounts of profits, yet once they reach a certain threshold they will be taxed heavier. If their is a problem with Israel's banking system or a perceived social injustice, I do not think that this legislative measure will solve the problem.

If we are to have a discussion on monetary policy, whether it be for our government or that of others, I will admit outright that I affiliate my political/economic ideology with Austrianism or better know as the Austrian School of Economics. My ideas about monetary policy and banking are derived from Ludwig von Mises, namely from his work entitled The Theory of Money and Credit and from Jesus Huerta de Soto's Money, Bank Credit, and Economic Cycles.

If a bank is practicing fractional reserve lending, I believe they should not be allowed to do so. However, since this questionable practice is legalized in our country and in others, then we must discuss why fractional reserve lending is unethical or ethical. The discussion will inevitably lead us to inflation and central banking.