Read_716 – How to Fix Banking & Money – PBDC vs CBDC [El Gato]

“and the uniparty is in strong agreement here. both know that losing control of the money and the banks is an existential threat to their aristocratic and unaccountable powers.
sure, this all sounds like a lot of change and a lot of risk and a wildly new set of systems, but you’re not going to fix that which has become this broken without change. the mal and mis-incentives are far too great and the entrenched interests like it this way. and it’s going to break.” – El Gato

Today we dive into a piece that expands a thought experiment on what a free banking system might look like and what historical precedent we have for thinking about the what and why of the banking and financial system we will need to replace the one on its deathbed… especially to ensure we don’t die with it. Funny enough, the article is in a sense against Bitcoin in the sense of its need for fixing the baking system, but we will discuss in a follow up Guy’s Take exactly why his idea has a lot of value, but why it will never work, without Bitcoin. Stay tuned.

Check out the original article and tons of other great reading on the substack below:
Guy’s Nostr Pubkey: npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev

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“I have never understood why it is “greed” to want to keep the money you have earned but not greed to want to take somebody else’s money.”
— Thomas Sowell
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