> 1) The government grants a de facto monopoly through excessive regulation and licensing requirements. This is a HUGE problem. The oligopoly that runs banking

> 1) The government grants a de facto monopoly through excessive regulation and licensing requirements. This is a HUGE problem. The oligopoly that runs banking now is never going to innovate in certain ways because its contrary to their profit incentive, because they have no competitors willing to implement better feature sets (because newcomers are basically disallowed). Our currency is hard linked to banking processes. There are some things that are nearly impossible to extract even if we do get competition going (which won't happen). The only way out of this is something like Bitcoin and/or total collapse of today's banking system.