>On the surface, that's pretty dumb and it's history has entirely fraudulent roots. This is again a conspiracy theory typically promoted by adherents of the lo

>On the surface, that's pretty dumb and it's history has entirely fraudulent roots. This is again a conspiracy theory typically promoted by adherents of the long discredited pseudoscience known as Austrian Economics. Don't fall for this. The fact that it's working at the set interest rates is proof that the system is not a fraud, because the bank should absolutely be able to make more good loans when it knows it can. It's only a fraud if it there are no regulations or safety nets and the banks become insolvent and everybody loses their money. Which right now is mostly a problem that crypto has. Central banks have become increasingly good at preventing it from happening with their own currencies. >it favours participants closer to the money printing source yet these participants are not providing any goods or services - just measures of value Well this isn't true. Providing liquidity and assuming risks are actual valuable financial services that the current system gives. The demand for these services won't go away if you change how the banks work. And the alternative is even worse anyway, where banks wouldn't be able to make money from loans at all, and they would just charge everyone mandatory increasing deposit/withdrawal fees. Hey this is starting to sound a lot like crypto. The "rich get richer by doing nothing" effect is just a common feature of capitalism. In that aspect crypto is again, even worse. It provides no goods or services either, the entire thing is a waste, built on a technological fraud and propped up by "whales" who don't want to lose their investment.