Has the low cost of online banking removed the need for fractional reserve banking? Why does a basic checking account need to have economy destroying risks?
As long as you drive a Tesla and never have to cook in your Italian marble kitchen (I don't know and don't care if it's a thing, just making a point) it doesn't matter if it's all debt. The entire point of our economy is to kick it downhill and have someone else pay for it.
Nothing grows indefinitely, we all know this, but we pretend economy is different.
Fractional reserve banking seems like an absurd way of paying for banking.
No physical locations, no actual tellers, no physical money stored, etc.