It's good to read articles being written which discuss flaws in the financial system. It's also good to see this article tracing things back to money printing since that's likely the root cause of many modern problems and it's almost certainly responsible for driving up house prices and distorting markets.
The price of something is determined by supply and demand. Access to easy credit in the past has artificially inflated the demand for housing and therefore increased house prices; it has allowed people who could otherwise not afford a house to buy one using credit. At the same time, those who do not have access to credit or who refuse to take on credit for circumstantial reasons are disadvantaged; they are not able to participate as buyers in the housing market because their place in the queue has been stolen by oftentimes reckless borrowers who have collectively pushed up property prices out of the reach of any sensible person using huge loans that they can't even afford.
Those reckless borrowers will then be a constant threat to the value of everyone's houses as they are constantly on the verge of bankruptcy... Then when they do eventually go bankrupt, those among the financial elite who created the whole insane scheme swoop in and buy up the foreclosed properties for cheap... Or the worthless mortgages 'toxic assets' are sold to the reserve banks for an extremely generous price.
The harmful effects of a debt-based monetary system don't end there. Studies have shown that people who are under financial stress (e.g. such as those who are struggling to meet their loan repayment obligations) are more likely to commit crimes. Not only does this system punish honest savers (and people who are willing to delay gratification), but it may actually force people to engage in illegal or unethical activities to make ends meet.
The more you try to rationalize the legitimacy of the system by peeling back the layers, the more you become convinced that it's actually dysfunctional.
If you consider the long term ramifications of such a system from an evolutionary perspective (in terms of what behaviors and traits it encourages), things get even worse…
