Sunday, 10 March 2013
Deposit insurance is criminal
It is criminal that any organisation cannot fail... and in the context of banking for banks to have deposit insurance is criminal. It is criminal for banks to have deposit insurance because this means they cannot fail and an institution which cannot fail can print money (if there is a fiat currency). Banks can print money because they cannot fail... which is a crime. It is a crime to give banks deposit insurance.
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