No arguments for fixing the banking system convince me that usury fracional banking is even sustainable and repairable in the first place.
The usury system requires an ever inflating supply of debt credits so that borrowers have a chance to keep up with their obligations for paying both money and interest. The extra fiat credits needed to pay interest have to come from somewhere.
But didn't Greenspin (sic) and Benranke (sic) set out to destroy inflation just a few short years ago with rate hikes from an artificially low base?. And didn't the rising pain level result in a rate pullback to 1 percent again? But did this ward off the financial collapse? And aren't some factions sceaming now for a rate hike to kill inflation? But isn't inflation needed so borrowers can keep up with rising interest obligations?
But isn't the economic system trying to deflate? Isn't deflation bad for usury banking?
The usury banking system and its attendant dependence on runaway inflation is unsustainable.
It simply allows nonproductive people to feed off of producers.
A non usury money system will be more boring, more stable, less greedy but ultimately more productive because the financial engineering parasites will have to go to work and produce something that adds value, not subtracts from it.
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A place to post my writing in journalism, fiction, poetry and rants.
