[Tresdus]

(05-23-2015 06:34 PM)Samseau Wrote:  

(05-23-2015 03:43 PM)Peregrine Wrote:  

(05-23-2015 03:26 PM)Samseau Wrote:  

(05-23-2015 03:25 PM)Peregrine Wrote:  

Quote:

Meanwhile, unproductive leeches like bankers are making money hand over fist and pay a fraction of what the dude breaking his back for his new business, that he built off the ground and actually contributes to society, does.

I'm not sure who you're referring to when you say "bankers", but banking is a vital part of society.

I find it equally laughable that you do not see the necessity of a stable banking system to a free and prosperous society. Although I am worried about current economic policies such as ZIRP/NIRP, banning cash, QE, etc, they do not change the fact that banks add value. Just off the top of my head:

1) Safe place to store your wealth
2) Facilitate easy access to your wealth
3) Provide financing for all sorts of endeavors
4) Manage financial risks (which is the most important)

Apparently your historical knowledge is lacking. Most civilizations have done well without any form of mass banking, including the West. Christianity enforced anti-Usury laws across the West for 1000 years, and during that time Europe became a powerhouse. There's nothing necessary about banking.

Is it convenient to have banks? Sure. Is it good? Probably not. Is it vital? Definately not, which is what you originally said and is a laughable, easily contradicted assertion.

You lack historical knowledge. Only after the credit system was put into place countries economies could actually start to grow.