[kakwa_]

> This is so disingenuous and reeks of a superiority complex

Well, no. I doubt anybody on Earth (including bankers, billionaires or governments) truly can grasp all the ins and outs of money/debts creation and all the consequence it has on the economy and society. At best they can have a local and short term view which are in their best interest.

For example, 1929 crisis, more than 90 years after the events is not a completely settled question among scholars up to this day (not so much on the origins but more on the effect of the responses of Hoover/Roosevelt distinct policies and the policies of other countries around the world at the time).

To make a really bad analogy, the current financial system is a bit like this big old legacy system with COBOL, some partial rewrite in Java, some ad-hoc hacks created when it crashed. It's a huge mess to entangle, not always logical, but it kind of works except when it doesn't. And nobody really knows fully how it works. The current financial system is a bit like that, except it's a 300/400 years old (~creation of the first central banks), has seen tons of crashes and hacks, and has laws, procedures, customs and policies as "source code" which makes it really hard to read.

[viklove]

> I doubt anybody on Earth (including bankers, billionaires or governments) truly can grasp all the ins and outs of money/debts creation and all the consequence it has on the economy and society.

Then the whole system needs to be thrown out and rewritten from scratch. It's pretty obvious who benefits from all the jargon, complexity, and abstractions. And it's not labourers, that's for sure.

[cryptica]

I think that this is a very strong argument. The opacity of the system is in itself sufficient grounds to label it as unethical. It's not ethical to coerce someone into accepting the value of something that they are not capable of understanding and which constantly changes in ways that they also cannot understand.

If, without telling you, I took a gold coin from you and replaced it with a gold-painted led coin and then I gave your gold coin to someone else, this is stealing. The fact that you don't realize that there is a difference does not matter. How is this different from what the Fed is doing?

It's not right to assume that this economic system treats us all equally on the basis that everyone is equally incapable of understanding it.

People game the system by observing what works and reacting to familiar situations in ways to maximize their personal benefit. If the rules of the system don't change for a long time, the system becomes ossified and we end up with an inherently unjust system.

Goodhart's law states that "When a measure becomes a target, it ceases to be a good measure" - The measuring tools which the government has been using to operate our economy are already well understood and have being exploited for a long time.