Gotta listen to the pod. But my takeaway is deposits and lending (functions of banks) are not inherently bad but can be structured with bad incentives that lead to bad outcomes. Fractional reserve, IMHO, is THE bad incentive leading to all the fuckery. Coupled with centralized control of the price of capital and we get our current clown world.
Look into commodity backed credit/lending for something that is probably what banking becomes on bitcoin.
AVERAGE_GARY
npub160…zyjc9
2025-02-23 23:22:51
in reply to nevent1q…af24
Author Public Key
npub160t5zfxalddaccdc7xx30sentwa5lrr3rq4rtm38x99ynf8t0vwsvzyjc9Published at
2025-02-23 23:22:51Event JSON
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