Jimmy on Nostr: I enjoyed the article up to a point, but then completly lost the plot. You focus your ...

I enjoyed the article up to a point, but then completly lost the plot. You focus your critic on banks and completly ignore the role of central bank in this dynamic. If running a bank is so lucrative you would expect the number of banks to grow (look at shitcoins amd their proliferation, obviously they are earning money from the scam). However, the number of banks shrinks in most developed countries. This is a trend even in countries with historically strong private banking sector, like Germany. When Bundesbank was operational, and properly managed by the state, this was not the case. Now that ECB is running the show things are different and in not so distant future there will be only ECB as a source of credit money.