Comment by neilwilson

There is no such thing as fractional reserve banking. The multiplier is a myth.

Quite why this persists when the Bank of England debunked it in 2014 [0] is anybody’s guess.

Just another of those concepts that is neat, plausible and wrong.

[0]: https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/m...