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1·You see, fractional reserve banking works both ways.

那你看，部分准备金银行制度在两个方向同时运作。

2·So, Banks are natural and fractional reserve banking is the natural thing to do.

所以银行的产生是很自然的，而部分准备金制度也是自然产生的。

3·It is because our financial system is based on something called fractional reserve banking.

那是因为，我们的金融系统是建立在某个被称为部分准备金银行制度的基础上。

4·Fractional Reserve banking is a system of banking that essentially allows Banks to lend out money that they don't actually possess.

部分准备金银行体系是指允许银行向外进行借贷业务，而这些钱并非银行所有。

5·The optimists argue that the Fed through the magic of fractional reserve banking can counter the forces of private sector credit contractions.

乐观主义者表示美联储通过部分储备金的“魔力”扭转了私企信用紧缩的问题。

6·Fractional reserve banking as it was called was possible if most of the Banks engaged in this practice together so it did not much matter if money created by one bank was deposited with another.

如果大多数银行一起这样做，所谓的部分准备金银行制度就成为可能。因此，如果一家银行“创造”的货币成为另一家银行的存款的话，那就不会产生很大的影响。

7·And since the whole point of fractional-reserve banking is not to have sufficient money to redeem the receipts, the Rothbard bank would quickly go under.

且既然整个部分准备金银行制度的意义就在于银行不需要有足够的储备金去兑现它的票据，因而罗斯巴德银行会很快破产倒闭。

8·Because we live under a system of fractional-reserve banking, other consequences quickly ensue.

由于我们身处一个部分准备金银行制度下，间接影响也随即发生了。

9·The first scenario is the catastrophic one in which the whole banking system based on a fractional reserve collapses.

第一种，整个基于部分准备金的银行系统灾难性的彻底崩溃。

10·Banksoperate on what is called a fractional-reserve banking system.

今日的银行业运作在所谓的“部分准备金银行”制度下。