Do we need Banks?
Do we need Banks? What do they do or create? And why do we allow them to rule over the world? Many people in the world are attached at the hip when it comes to banking. And truly nothing in society can function in one way or the other without them.
You want that nice home. Well, you need a bank. Car is acting up you need a car loan. College degree is needed well here is another bank loan guaranteed by the Fed Govt. And on an on it goes. Most consider it commerce. Yet, many are realizing all isn’t fine and dandy.
That home you purchased with 30 year money is called a mortgage for a reason. It’s a death gamble for all those who sign on the dotted line. You think you own it? Think again. Stop paying that monthly note and watch the real owners appear. Yet, most are content with this existence.
The truth of the matter is most things of value are tied to the banking system for a reason. Motivating factors such as a new home or car are enticing to most. It signifies success. But it also locks most unsuspecting individuals into the legacy system. And once your wired in that is when the control begins.
So what do banks really create? Truthfully, the system itself is just a general ledger of virtual credits and debits. It is however society’s belief and labor that produces the illusion. But many are starting to see past this illusion.
It is this illusion that has most central authorities panicking. The loss of confidence in any system can have drastic consequences. Why do you think the Fed has backstopped everything?
So do we need banks? At the moment yes we do. However, things are changing at a rapid pace. Technology itself will make most of what we see today obsolete. This also includes banking as we know it. There may be a moment in time where banks may not be needed.
The reason I say not needed is because the blockchain may in the future replicate the function of fungible IOU’s. The legacy system itself functions in this manner. Yet, instead of banks issuing credit peer to peer crypto credit may become all the rage.
Although there are some iterations of this type of system there are some bugs that need to be worked out. Yet, banks may still exist to some capacity. Custodial holding services for crypto may be the new cash cow for future banks. Since they are highly regulated it may be what keeps these institutions relevant.
Which ever way this story unfolds my hope is for humanity to be free from bondage. Debt can be a cruel master for both the individual and nations. It can cause both war and famine. Yet there may be a better way. And my hope is that the new way produces abundance for all.
Posted Using LeoFinance Beta
