Big banks don't need to be saved. We already have cryptocurrency infrastructure ready to replace them... Every crash creates new opportunities. Everybody knows this. The government just wants to protect their cronies and, in doing so, take opportunities away from new players.
The government should not be using taxpayer money to support (by rewarding) extreme levels of incompetence in the financial sector.
The narrative that institutions are ever going to pay back the debts is BS... Public debt has only been increasing for many decades. It's not harmless by the way. When the big banks will start charging interest on all that ever-growing pile of debt, it's tax payers who are going to have to foot the bill through increased taxes... There is a good reason why taxes today are higher than they've ever been. The government is just using taxpayer money to pay interest to big bankers (not the ones you see working in the office; but the ones who are living in big mansions and never had to lift a finger since the day they were born)... Who basically get a free ride on the rest of us... Not having to do any work at all or providing any new value for society.
It's absolute BS that social inequality would deepen without money printing. Without constantly having their stocks propped up by money printers, the average rich person who does not work would lose more net worth than they would earn in any given year; only the most talented ones who know how to invest their capital efficiently would be able to grow their wealth. The current monetary system just props up any high-exposure stock regardless of what utility it provides to the average working, value-producing citizen. This is not sufficiently competitive for capitalism to function; it's a free ride for capital-holders regardless of their skills and abilities. Smart people, dumb people, it doesn't matter, they all get rewarded. Only amount of capital and the direction of the money printers count. Often, the dumb ones are rewarded more than the smart ones because they just follow the hype blindly. Dogecoin, SHIBA INU coin... Are these the kinds of investors who should control the world's wealth to decide all our economic futures?
Let's not forget what all this money printing and rewarding idle investors is doing to the real economy; people are increasingly working bullshit jobs; subsidized by all kinds of elaborate debt schemes... The average person is losing all their practical skills; instead, learning useless bureaucratic skills which destroy net value from the economy by hampering innovation and adding new entry barriers where none are needed. Our economic skills are degrading. We are becoming economically useless and totally dependent on an increasingly inefficient economy which has fewer and fewer players.
This article is just propaganda.
