fractional

Would you care to elaborate more about why fractional reserve banking isn't the primary satire of the article?

You're thinking fractional reserve means, for a 1/4 fraction, I put $1000 in my savings account and the bank can lend you $4000.

They missed Newfoundland, which is on Newfoundland Standard Time: UTC+3.5 Are there any other fractional timezones?

The parity values are simply rational - they might be fractional, negative, larger than 255, etc.

Interestingly enough, fractional reserve banking is not significantly different from the way any other business works.

In fractional reserve systems you create money when you borrow from the bank This isn't true.

Bank runs are widely acknowledged to be the biggest risk of fractional reserve banking.

Without a fractional reserve/fiat money/central bank system, a bank would not be able to borrow money at essentially 0% in a credit shortage.

If we have, say, 8 bits of fractional precision, then we work in multiples of 1/256.

But is there fractional reserve system currency issuer without a central bank?

With forced taxation, shady fractional reserve system, central banks manipulating markets, rich getting richer, etc.

I'm not sure if the central bank is technically part of the fractional reserve system.

In a "Fractional Reserve" System banks only have to maintain a fraction of what they lend out in reserve.

You don't need to take any loans at all - the bank with $1B in deposits could just "loan" a subsidiary $9B to buy US treasuries with via the magic of fractional reserve banking.

This is right from the wiki page you refuse to read: "Because bank deposits are usually considered money in their own right, and because banks hold reserves that are less than their deposit liabilities, fractional-reserve banking permits the money supply to grow beyond the amount of the underlying reserves of base money originally created by the central bank."

From the very Wikipedia article you're citing: "Fractional-reserve banking is the practice whereby a bank accepts deposits, and holds reserves that are a fraction of the amount of its deposit liabilities" "The relending model begins when an initial $100 deposit of central bank money is made into Bank A.

Fractional reserve banking refers to banks holding only a fraction of their deposits in the form of liquid reserves, and lending out the rest.