The current banking system is indebted, insolvent, malfunctioning, incompetent, and incompatible with the realities of the time.
The banks are broke because we have a system called “Fractional Reserve Banking,” meaning that banks can lend money they don’t actually have. It is a criminal act and scandal, and it has been going on for a long-long time.
We have counterfeiting, sometimes called “Quantitative Easing,” which is the artificial printing of money which, if any ordinary person did, they’d go to prison for a very long time. And yet governments and central banks do it all the time. Central banks repress the amount of interest and rate, so we don’t have the actual cost of money. Central banks manipulate interest rates; however, we talk loosely about deposit guarantees underneath all this. So when banks go broke because of their own incompetence and dishonesty, the taxpayer picks up the tab. It is theft from the taxpayer. And until we start sending central bankers, bankers, and politicians to prison for this outrage, this situation will continue against the people.