I don’t think it’s so obvious, but it is to those of us with deep knowledge of e

I don’t think it’s so obvious, but it is to those of us with deep knowledge of economics, that banks are rapidly becoming an unnecessary institution.

Why? because the next step in financialization is to bypass the banks with liquidity distributed directly from the Treasury, and the near elimination of consumer interest.

It actually makes no sense at all to charge interest on consumption. The reason we need interest in business is for the purposes of economic calculation (determining inter-temporal profit and loss).

There are three services that need to be performed: payment capacity, escrow on warranties, and collection – all of which can be performed by publishing actuarial limits the way we publish interest rates today.

Furthermore there is no longer a need for a single currency in a digital era, and we can issue currencies that are exchangeable only for different purposes

The roadblock to such reform is the government, financial sector, and institutional sector, all of whom prey upon citizenry through financialization.

And the citizenry is suspicious of such solutions primarily because until the government cannot enact legislation(pseudo-law) to further interfere with the economy, it remains in the interest of citizens to use banks and hard money as means of controlling the ability of the state to engage in parasitism.

Therefore the independence of the treasury must be a constitutional guarantee and attempts to thwart it punished with the same severity as treason or war crime.