왜 세계 은행 의 대부분 이 붕괴 를 향해 사 가 고 있 는가 - 더그 케이시 Why Most of the World ’ s Banks Are Headed for Collapse – Doug Casey – 7 / 15 / 15 Read at : http : / / dailyreckoning . com / why - most - o . ..- for - collapse / 여러분 은 안전 한 은행 이 라는 토론 이야기 가 좀 지루 할 수 있 을 것 이 다 . 그런데 은행 은 지루 해야 만 한다 . 그리고 여러분 은 세계 도처 의 은행 에 대한 관리자 가 되 야 는데 - 수많 은 은행 들 이 지금 문제 에 봉착 했 기 때문 이 다 - 그게 그렇게 되 었 다 . You ’ re likely thinking that a discussion of “ sound banking ” will be a bit boring . Well , banking should be boring . And we ’ re sure officials at central banks all over the world today — many of whom have trouble sleeping — wish it were . 여기 에 짧 은 글 이 세계 은행 체제 가 왜 안전 치 못한지 를 설명 한다 , 또 안전 치 못한 은행 에서 안전 하 다는 것 이 어떻게 구별 되 는지 말 한다 . 나 는 천 명 중 에 한 명 도 그 차이 를 이해 하 지 못할 것 이 라 생각 한다 . 결과 적 으로 세계 경제 는 안전 치 않 은 통화 를 거래 하 는 안전 치 못한 은행 에 기반 하 고 있 다 . 이것 은 둘 다가 시초 부터 악화 되 었 다는 것 이 다 . 현대 금융 은 중세 시기 에 금제 련 거래 로부터 태동 했 다 . 금제 련 을 하 는 일 은 귀금속 재고 를 요구 한다 , 이것 은 귀금속 을 사 고 파 는데 전문 성 이 요구 되 며 안 전하 게 보관 해야 만 한다 . 이런 능력 은 금 을 빌려 주 고 대출 받 는 사업 으로 확장 된다 . 이게 돈 을 빌려 주 고 받 는 일 로 되 는 것 이 다 . This brief article will explain why the world ’ s banking system is unsound , and what differentiates a sound from an unsound bank . I suspect not one person in 1 , 000 actually understands the difference . As a result , the world ’ s economy is now based upon unsound banks dealing in unsound currencies . Both have degenerated considerably from their origins . Modern banking emerged from the goldsmithing trade of the Middle Ages . Being a goldsmith required a working inventory of precious metal , and managing that inventory profitably required expertise in buying and selling metal and storing it securely . Those capacities segued easily into the business of lending and borrowing gold , which is to say the business of lending and borrowing money . 오늘 의 사람 은 다 잊어버렸 지만 1930 년 대 초 까지 만 해도 금화 를 주고받 는 일 이 보통 일 이 었 다 . 금 으로 보장 된 국가 통화 는 고정 율 로 거래 되 었 다 . 은행 은 특별 한 게 없 는 사업 이 었 다 . 그 들 은 금화 를 저장 하 고 대출 하 는 일 로 전문 성 을 띄 었 다 . 이른바 은행가 는 대장간 이 없 지만 금제 련 업자 였 다 . Most people today are only dimly aware that until the early 1930 s , gold coins were used in everyday commerce by the general public . In addition , gold backed most national currencies at a fixed rate of convertibility . Banks were just another business — nothing special . They were distinguished from other enterprises only by the fact they stored , lent , and borrowed gold coins , not as a sideline but as a primary business . Bankers had become goldsmiths without the hammers . Bank deposits , until quite recently , fell strictly into two classes , depending on the preference of the depositor and the terms offered by banks : time deposits , and demand deposits . Although the distinction between them has been lost in recent years , respecting the difference is a critical element of sound banking practice . Time Deposits . With a time deposit — a savings account , in essence — a customer contracts to leave his money with the banker for a specified period . In return , he receives a specified fee ( interest ) for his risk , for his inconvenience , and as consideration for allowing the banker the use of the depositor ’ s money . The banker , secure in knowing he has a specific amount of gold for a specific amount of time , is able to lend it ; he ’ ll do so at an interest rate high enough to cover expenses ( including the interest promised to the depositor ) , fund a loan - loss reserve , and if all goes according to plan , make a profit . A time deposit entails a commitment by both parties . The depositor is locked in until the due date . How could a sound banker promise to give a time depositor his money back on demand and without penalty when he ’ s planning to lend it out ? In the business of accepting time deposits , a banker is a dealer in credit , acting as an intermediary between lenders and borrowers . To avoid loss , bankers customarily preferred to lend on productive assets , whose earnings offered assurance that the borrower could cover the interest as it came due . And they were willing to lend only a fraction of the value of a pledged asset , to ensure a margin of safety for the principal . And only for a limited time — such as against the harvest of a crop or the sale of an inventory . And finally , only to people of known good character — the first line of defense against fraud . Long - term loans were the province of bond syndicators . That ’ s time deposits . Demand deposits were a completely different matter . Demand Deposits . Demand deposits were so called because , unlike time deposits , they were payable to the customer on demand . These are the basis of checking accounts . The banker doesn ’ t pay interest on the money , because he supposedly never has the use of it ; to the contrary , he necessarily charged the depositor a fee for : Assuming the responsibility of keeping the money safe , available for immediate withdrawal , andAdministering the transfer of the money if the depositor so chooses by either writing a check or passing along a warehouse receipt that represents the gold on deposit . An honest banker should no more lend out demand deposit money than Allied Van and Storage should lend out the furniture you ’ ve paid it to store . The warehouse receipts for gold were called banknotes . When a government issued them , they were called currency . Gold bullion , gold coinage , banknotes , and currency together constituted the society ’ s supply of transaction media . But its amount was strictly limited by the amount of gold actually available to people . Sound principles of banking are identical to sound principles of warehousing any kind of merchandise , whether it ’ s autos , potatoes , or books . Or money . There ’ s nothing mysterious about sound banking . But banking all over the world has been fundamentally unsound since government - sponsored central banks came to dominate the financial system . Central banks are a linchpin of today ’ s world financial system . By purchasing government debt , banks can allow the state — for a while — to finance its activities without taxation . on the surface , this appears to be a “ free lunch . ” But it ’ s actually quite pernicious and is the engine of currency debasement . Central banks may seem like a permanent part of the cosmic landscape , but in fact they are a recent invention . The US Federal Reserve , for instance , didn ’ t exist before 1913 . 안전 치 못한 은행 Unsound Banking 사기 행위 가 은행 사업 에 들어왔 다 . 은행가 는 금 을 보유 한 듯 속였 다 . 또 금도 발행 한 화폐 와 수표 만큼 있 는 듯이 속였 다 . 이래서 태동 한 것 이 지준율 은행 이 다 . 이러 면 은행 은 속임수 로 가 는 것 이 다 . Fraud can creep into any business . A banker , seeing other people ’ s gold sitting idle in his vault , might think , “ What is the point of taking gold out of the ground from a mine , only to put it back into the ground in a vault ? ” People are writing checks against it and using his banknotes . But the gold itself seldom moves . A restless banker might conclude that , even though it might be a fraud on depositors ( depending on exactly what the bank has promised them ) , he could easily create lots more banknotes and lend them out , and keep 100 % of the interest for himself . Left solely to their own devices , some bankers would try that . But most would be careful not to go too far , since the game would end abruptly if any doubt emerged about the bank ’ s ability to hand over gold on demand . The arrival of central banks eased that fear by introducing a lender of last resort . Because the central bank is always standing by with credit , bankers are free to make promises they know they might not be able to keep on their . own . 은행 은 요즘 어떻게 돌아가 는가 How Banking Works Today In the past , when a bank created too much currency out of nothing , people eventually would notice , and a “ bank run ” would materialize . But when a central bank authorizes all banks to do the same thing , that ’ s less likely — unless it becomes known that an individual bank has made some really foolish loans . Central banks were originally justified — especially the creation of the Federal Reserve in the US — as a device for economic stability . The occasional chastisement of imprudent bankers and their foolish customers was an excuse to get government into the banking business . As has happened in so many cases , an occasional and local problem was “ solved ” by making it systemic and housing it in a national institution . It ’ s loosely analogous to the way the government handles the problem of forest fires : extinguishing them quickly provides an immediate and visible benefit . But the delayed and forgotten consequence of doing so is that it allows decades of deadwood to accumulate . Now when a fire starts , it can be a once - in - a - century conflagration . Banking all over the world now operates on a “ fractional reserve ” system . In our earlier example , our sound banker kept a 100 % reserve against demand deposits : he held one ounce of gold in his vault for every one - ounce banknote he issued . And he could only lend the proceeds of time deposits , not demand deposits . A “ fractional reserve ” system can ’ t work in a free market ; it has to be legislated . And it can ’ t work where banknotes are redeemable in a commodity , such as gold ; the banknotes have to be “ legal tender ” or strictly paper money that can be created by fiat .