The banking system is very simple. It is not a sham. It is true that it is a fractional system, but for every deposit there is an asset to support it. Where little misguided lunatics go crazy is when they demand that that asset be money (cash). (an Insolvent bank is a bank who's liabilities outstrip its assets) (an illiquid bank is a bank who's reserve cash is insufficient to meet the current demands for cash from it's customers (both depositors and debtors alike).
There is nothing inherently evil about our banking system. So get that foolish thought out of your heads. Remember: Our banking system is a fractional system, but for every liability there is an asset to support it (assuming the system is solvent).
Now, some fools on Wall Street are trying to copy that very same system. And while it is an ingenious step, it is by no means a laudable one. Why? because for every liability there is no asset. It has gone into the pockets of the thieves and to cover that up, it helps to destroy the evidence.
Gnomes are neutral. They do not like being attacked. They do not like being lumped in with thieves by people who lack basic knowledge of banking and/or economics. They do not like pissants who copy their system for nefarious ends and allow the blame to fall on others.