Banks are dinosaurs. And DeFi is the meteor First seen in The Defiant Retail banks are dinosaurs. Bill Gates, 1994 Yet, despite this widespread belief, US bank deposits increased from $189 billion in 1994 to $7.8 trillion in 2019. Technology… Continue reading Why do we still use banks?
As the world faces an unprecedented economic crisis, there is a fundamental error in most policy-makers’ assumptions: they see banks as financial intermediaries. In this view, banks are simply intermediaries, charging for connecting surplus capital with productive opportunities. Essentially, it… Continue reading Don’t expect banks to lend again anytime soon
Cutting through the veil of lies, invented complexities and deceit In the event that you ever took a course in economics at university, there is a reason why you don’t know that commercial banks create the vast majority of the… Continue reading Where does money come from?