Investing in precious metals 101

Re: How I Learned to Stop Worrying About Fractional Reserve …

  • Sun, Jul 12, 2009 - 07:33pm

    #79
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: How I Learned to Stop Worrying About Fractional Reserve …

but who owns the automation?  if bankers maintain the current economic model where they profit from the intermediation (automated or not) then nothing changes.  that’s actually what we have today…technology has been an enabler for more centralization as the biggest banks automate the intermediation and make even more profit off it.  

so ownership is the issue.  a completely automated system would need to be owned like a public utility, or decentralized to the township level, or something…