You say only a subset are necessary. Necessary for what? Necessary to conduct banking as it exists today where we are faced with choosing between global cascadi

You say only a subset are necessary. Necessary for what? Necessary to conduct banking as it exists today where we are faced with choosing between global cascading debt default due to a system that has no true demand deposits or hyper-inflationary spirals from ever larger (debt funded) bailouts of that system?