Banking System

This is sort of my first debate in the economics category so please excuse me as I am not as familiar with some terminology. (Although, I am currently doing one with games concerning Steam as a monopoly). So, I thought doing this debate would be a good opportunity for me to become generally more familiar with these concepts by doing research!I also did this debate because I did not want to do 5 rounds of two similar debates you posted.-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------Now, your main argument is basically how our "banking system needs some serious reform" and how fractional-reserve banking is generally a mistake. Well then, I obviously will be arguing how it does not need "some serious reform" and for fractional-reserve banking. Perhaps it needs certain reforms to an extent, but not as "serious" as changing one of our primary structures for banking. I have done some research prior to accepting this debate, and fractional-reserve banking was for the most part, received positively throughout the texts. I have also researched on alternatives such as 100% reserve banking, and that seemed to have not receive as much backing by economic authorities.The main benefits of fractional-reserve banking:Allows banks to act as "financial intermediaries"(Wikipedia).-Convenient for borrowers and savers/ a line of credit is issued to "qualified" clients/ Convenience in matching deposits with loans.Allows banks to provide relatively long-term loans to borrowers while providing immediate liquidity to depositors (Wikipedia).-Convenient for both parties/ depositors are assured to get their deposits back for the most part.These benefits far outweigh the negatives that are suggested by the perhaps subjective cries of critics of a system they view similar to fraud.I also discovered how " in most countries, the central bank (or other monetary authority) regulates bank credit creation, imposing reserve requirements and capital adequacy ratios", meaning that it can " limit the amount of money creation that occurs in the commercial banking system, and helps to ensure that banks are solvent and have enough funds to meet demand for withdrawals"(Wikipedia).So, a bank is usually backed by a separate larger reserve, either by a government or a central bank that help banks that are running out of reserves. Therefore, most nations' bank systems do take your argument's point into account, since there is usually a substantial"limit" to how much they can spend in relation to their reserves. Fractional-reserve banking also has a preventative measure in the event of a bank's inability to pay depositors. Deposit insurance is insurance for depositors that if their money is irretrievable from a bank, then they are covered by deposit insurance institutions usually run by corporations or governments. The main point addressed in my argument is that the current system already has fairly substantial policies that supplements the problem that you are citing in your preliminary arugment. I am betting you have more you want to say, so I will leave out more points that I was thinking of addressing until after I hear more of your argument.Sources Utilized:-https://en.wikipedia.org...