The process by which banks create money is so simple that the mind is repelled.
Sentiment: NEGATIVE
Banks are an almost irresistible attraction for that element of our society which seeks unearned money.
Banks need to think through their ethics very carefully, and many have done so. I don't know any bank that dismisses the concept of ethical banking.
People get into debt head over heels because banks make it so easy to do so. Then the banks come along and act like these people who can't or won't pay their bills are the dregs of society.
Banks hold deposits and savings entrusted to them by individuals, by businesses, by governments and by central banks. They put that money to work, helping people to buy homes, for example, or lending to businesses to invest in expansion.
I am afraid that the ordinary citizen will not like to be told that the banks can and do create and destroy money. And they who control the credit of a nation direct the policy of governments, and hold in the hollow of their hands the destiny of the people.
I happen to know a bit about banking.
Banking technology has made it simple and efficient to invest in good causes.
Sometimes your mind lets you do things with your money that make no sense.
I have nothing against investment banking, but it's like massaging money rather than creating money.
At the heart of banking is a suicidal strategy. Banks take money from the public or each other on call, skim it for their own reward and then lock the rest up in volatile, insecure and illiquid loans that at times they cannot redeem without public aid.