“As the long lines at Greek banks and ATMs attest to, banks don’t really have all of your money.  Bloated government spending in Greece also reveals the failure of Keynesian economics, which advocates a large state role in the economy. It reveals the failure of the bailouts, which did nothing constructive. They only delayed the inevitable. Greece reveals that government bonds are not sacrosanct.  All of these things – fractional reserve banking, Keynesian economics, the false safety of government debt, and the bailout model – are firmly embedded in today’s conventional wisdom. The crisis there helps to illuminate these fundamental flaws in mainstream economic thinking.”

http://www.internationalman.com/articles/the-worlds-biggest-economic-fallacies-and-how-to-profit-from-them

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