[noisenotsignal]

I guess your system works, but I hope you’d agree it’s quite the hassle! It also seems you’d be ok with paying fees for pure money storage, though hopefully you can see why the average person would hate such a setup.

I think from your POV that banks are horrible, thinking that even depositors should lose their money is in fact a defensible argument. So I concede that your view is one I can respect despite disagreeing.

But in my view, banks are a useful fiction because of the utility they provide (specifically easy storage of and convenient access to money). Even if a person can buy property to reduce bank risk (again, a super inconvenient workaround!), I’m not sure I want _businesses_ to be doing so, especially in light of the likely resulting impact on property values. I acknowledge a system relying on banks indeed has risks, but to me that’s a stronger argument for better regulations and protections to mitigate the risks than it is an argument to dissolve the system and lose its benefits.

[matheusmoreira]

I also concede that this fiction is convenient. I oppose it mainly because I completely distrust the current bank based implementation of it. Technology that obsoletes banking has yet to be invented. I thought cryptocurrencies would change something but they turned into stocks instead. Even worse: they literally reinvented banks on top with all of the downsides and none of the benefits. There's also the fact they don't solve secure storage: nothing stops some criminal from holding you at gunpoint and forcing you to irreversibly transfer cryptocurrencies to their wallets. Nothing stops them from kidnapping people and emptying their credit cards and bank accounts either but at least society manages to make the bank absorb some if not all of those losses. My country launched a central bank electronic transfers service and every day I see news of people irreversibly scammed out of tens of thousands.

Real property solves that problem best. The criminal can't take you to the government office with a gun to your head and force you to sign over the property to him. Property is also what capitalism is all about: actually owning stuff. Engaging in it keeps the fabled "you'll own nothing" dystopia at bay.