I am currently reading Paul’s

I am currently reading Paul's Mason's book, "Post Capitalism: A Guide to our Future".  In it, he makes a number of startling claims such as that "banks have always lent out more cash than there was in the safe"  (p.11)  and since 1971 no longer have to contend with legal limits in the form of a fractional reserve.  What are the facts and figures to substantiate or repudiate this claim? I find it quite difficult to peice together all the different elements in Mason' sweeping survey of post war economic developments (particularly since the advent of neo-liberalism)  such as the role of fiat money, financalisation and  QE – though Im still on  chapter 1.  Has anyone read the book and come to any conclusions particularly regarding his comments on banking