20 April

A serious question. What service do banks now provide? I struggle to think of a single one. You give them your money, which is then theirs to invest as they like, to make significant profits. They pay no real interest, certainly well below inflation. They offer mortgages, but their cheap credit at the same time causes house prices to explode, making the mortgages unaffordable (but making them rich beyond imagination). Now, when the bank is robbed by cyber criminals, guess who actually gets robbed? The customer. A clear failure of the bank’s services, but the customer pays for the loss. They’re parasites on the face of societies. Remember the Banking Royal Commission, the disgusting corruption it exposed? Nothing meaningful has been done, and they’re back to doing all the same things again. This is why older people, whose families still have memories of the Great Depression, to this day will not trust banks. It’s a very sound instinct.