Caitlin Long wants to start a new kind of bank…based on a very old model.
"A 100 percent reserve bank that would keep all of our cash at the Fed," she says. She was influenced by the work of Austrian economist Murray Rothbard, who saw fractional reserve banking as "a shell game, [and] a Ponzi scheme," arguing that banks should work exactly like safety-deposit boxes, or "money warehouses," required to keep all of their customers' money on hand at all time.
