[Swenrekcah]

I agree that banks and many financial instruments are valuable and do facilitate value creation in the world. But that is the extent of it, they facilitate others to create value but do not make any on their own. They are however very well positioned to extract the profit from other industries and that is why the financial world can be so lucrative.

Also, even if some financialization is beneficial that does not mean all of it is. Too much can be very harmful.

[quietbritishjim]

That's like saying that, when you farm wheat, the wheat plant did the value creation and the farmer just facilitated it.

Facilitating value creation is value creation.

[Swenrekcah]

I get your point, I believe I acknowledged the usefulness of financial instruments.

Nevertheless it is not exactly the same. A carpenter’s apprentice is useful only when paired with his master. He facilitates the carpenter in his value creation but lacks the skills to do anything on his own.

Unlike the apprentice however, finance never actually learns the stuff.

Again, all of this has it’s uses and all, it’s just gotten a bit out of hand in terms of gambling like behaviour and the push the financial world creates towards harmful monopolies.