BRITISH BANKERS UNITE AGAINST BITCOIN BY LINKING IT TO TERRORISM

As a former Wall Street banker myself, news of the banking industry’s collective influence on the greater society at large always strikes a nerve with me. Banking, in and of itself, is generally a very good thing for societies. People cannot buy major purchases like homes and cars without loans and lawyers involved. Your membership buys you a certain amount of access to credit, equity, and financial assets that the common man normally wouldn’t have. Banking is legalized, slightly regulated loansharking.
The problem usually comes within the fractional reserve banking aspect and the banking industry’s ability to make and control the amount of money in a society. This level of control has proven problematic as banks have run amuck in Western society and have gone unchecked by government. In fact, banks usually come out ahead when they step well over the line of ethical, economic behavior. ‘Bail-outs,’ ‘Bail-Ins,’ and derivatives trading, that has run into the quadrillions, are but a few examples of a financial system run amuck, and in serious need of external leadership and true governance.

This post was published at Crypto Coins News on January 19, 2015.