Louise Schneider poses for media after spraying the words 'Money for Weapons Kills' on a wall of the Swiss National Bank in Bern, Switzerland, on April 11. Photographer: Anthony Anex/Keystone via AP Photo

On June 10th the Swiss will be voting in a referendum to ban commerical banks from "creating money" through their money lending operations. In other words they could vote out fractional reserve banking. Under fractional reserve banking - the driver of modern capitalism - only a portion of deposits held by banks on behalf of customers are backed by “central bank money”, comprising of notes and coins, or the deposits that banks hold at the central bank. The result is that when banks issue new loans to businesses or individuals, they are often creating new money in the economy.

It is in fact a fraud perpertrated by the central bank and the banks it authorises to create money.  Once confidence in the [fiat monetary] system breaks down it causes the sort of crisis the world is experiencing. But without fractional reserve banking rapid economic growth [and vast improvements in the human condition] of the kind the world has experienced in the last century or so would not have been possible. This is the consequence of [the financial crisise mainly caused by] mindless easing of regulations by the “MBA” generation and repeal of legislation such as the Glass-Steagall.

News story here

The Mystery of Banking here