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> Do we, though? Why, yes? Isn't it blatantly obvious? What exactly leads you to believe we don't? > I don't know whether the answer is distributed blockchain

> Do we, though? Why, yes? Isn't it blatantly obvious? What exactly leads you to believe we don't? > I don't know whether the answer is distributed blockchains, or the Department of the Treasury creating an API for USD, or both; I'm dumbfounded how someone even comes close to believe that any one of these ideas comes even close to provide the service that financial institutions provide. Either you have a very specific and very niche usecase in mind, or maybe you have absolutely no idea about the services that financial institutions provide to society. > but the current banking system seems to me like the legacy code of feudal landed aristocrats. This comment leads me to believe that you are confusing stuff that has no relation whatsoever. Your dislike of caricatures and ideological strawmen you associated with financial services has absolutely no relation with the services provided to society by the whole banking industry. Just because you don't like Scrooge McDuck that doesn't mean most of us don't depend on loans to, say, buy a house or a car or store our savings or pay for everyday stuff.

errantspark 6y ago
We don't need usury. I'm confident we could figure out how to make things work without it.
- Nasrudith 6y ago
  We know how it works without it - stagnation and the those currently at the top staying there due to lack of capital. Usury is a religious fundamentalist term divorced from the systemics and the reality of what works and what doesn't.
  - krageon 6y ago
    > those currently at the top staying there And you're sure you're not describing the current day, but instead some hypothetical bad scenario if we had no financial sector? It seems to me that if we have this problem now and without a financial sector, that's not really related to them at all.
bartvk 6y ago
> or maybe you have absolutely no idea about the services that financial institutions provide to society. Your posts are interesting, reasonable and founded in facts. That said, I think there's an underlying emotion in other posts: fed up with the discrepancy between the everyday slough to improve your life, but then read about the money games that are played between commercial banks, the central banks and government.
m1rr0rman 6y ago
nice. also funny that some people here don't see a connection between their righteous indignation and companyX's policies that attempt to protect them from same :P

errantspark 6y ago

We don't need usury. I'm confident we could figure out how to make things work without it.

Nasrudith 6y ago
We know how it works without it - stagnation and the those currently at the top staying there due to lack of capital. Usury is a religious fundamentalist term divorced from the systemics and the reality of what works and what doesn't.
- krageon 6y ago
  > those currently at the top staying there And you're sure you're not describing the current day, but instead some hypothetical bad scenario if we had no financial sector? It seems to me that if we have this problem now and without a financial sector, that's not really related to them at all.

bartvk 6y ago

> or maybe you have absolutely no idea about the services that financial institutions provide to society. Your posts are interesting, reasonable and founded in facts. That said, I think there's an underlying emotion in other posts: fed up with the discrepancy between the everyday slough to improve your life, but then read about the money games that are played between commercial banks, the central banks and government.

m1rr0rman 6y ago

nice. also funny that some people here don't see a connection between their righteous indignation and companyX's policies that attempt to protect them from same :P