This excellent British organisation is lobbying for banking reform. A bill was put before Parliament By Douglas Carswell MP ( Conservative, Clacton) for the Fractional reserve basis of british banking to be abolished and replaced with an Honest Money or Positive Money solution.
Getting all excited about fractional reserve banking per se is not the most grown up of responses to the issue and the Concept of float in the insurance business might well be the next issue under the microscope for the more zealous amongst us.
What is important is that private banks being able to com-modify money which is essentially underwritten by the very people who also borrow it is fundamentally unfair it manages to go beyond privatising profits and socialising profits in short from a tax payers perspective it is just plain balmy.
The corollary to the basis upon which money is created by debt is that Banks being considered to big to fail have every incentive to take ridiculous risks and are rewarding themselves at increasingly unrealistic levels into the bargain it is the most wonderfully narcissistic construct one could ever imagine.