Fractional reserve banking is fraud raised to the level of a system. It is a cancer that destroys its host (a civilization) and then abandons the ruins just before final collapse to move on t a younger, still vibrant, population. It has been around since Babylon (which is now a pile of ruins under sands).
But, unfortunately, this time the fraud is planet wide and there is no new frontier for the parasitic banksters to move on to.
You’re right it is fraud, they’re crooks! They create money out of nothing and then charge us for it and make us work for it.m
Yes indeed, high fraud, in plain sight! It's been tried a long time, and each society that has used it for long has failed as you say.