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If a person does not have the goods that other people have entrusted him or her with it is simply fraud. Fractional reserve banking goes hand in hand with fiat greenbacks unbacked by any commodity of value.
Rothbard's The Mystery Of Banking, Man, Economy And State, A History
Of Money And Banking From The Revolution (US) to World War Two and his best, recently published Economic Controversies explore this whole issue in detail.
Racism and sexism are invented leftist terms going back to the 30s and late 60s respectively. There are great racial and sexual differences.
The funny thing is is that I agree that LRC is a Cult and Block a dunce
for their mindless worship of Paul and Block's stupid Zionism as well as his muddled views on abortion. Block NEVER deals with opposing views on anything.
But this Micha critique is simply an intellectual embarrassment.