This article doesn't propose a single Reform or Idea, structural or otherwise, which frames either the reasons for the demise of our Banks or what might be done to cure whatever problems may be inherent in the design of Banks that causes them to fail periodically; except to say Bear Markets happen, and that they are good, and they last only so many months, on average. Can you bury your head any deeper in the sand? This is the argument for the great 'uncaused cause', which as we know, simply doesn't exist. Either things are caused, or the Legal System is completely wrong in assuming that causes do in fact exist.

Here's something to smoke in that Pipe you are wafting upon. ALL of our Banks are 'frontrunning' their Customers. Hence, no new customers, in fact the reverse, fewer customers. Existing customers are leaving. Why? Because the Banks are stealing from them, that's why.

Here's the scam. The Purpose and Motive is to obtain Bank Fees. Here's how they are doing it. Your deposits do not count. Only your debits count. It is 'make pretend' accounting. By 'pretending' your depositis do not count UNTIL AFTER all of your debits are deducted from your Bank Balance, ALL of the U.S. Banks are taking Insufficient Fund Fees, usually $25 dollars, right out of your Bank Account.

By 'frontrunning' debits BEFORE credits, by ignoring the 'real time' nature of transactions, Banks ensure themselves a greater number of Bank Fees, in the aggregate, for ALL the Banks. This is Predatory Banking Practice. It is in fact Illegal, and NOTHING is being done to correct the Problem. Instead, customers are harrassed by a bureaucracy that is trained to understand only that your Bank Balances are whatever 'they wish to declare them to be' at any given moment. This is pure, unadulterated FRAUD and is widespread throughout the Banking System.

If the Obama Administration is serious about encouraging Bank's to Lend money to stimulate the economy, they must first wean the Banks off of their Thumb Sucking Bank Fee Addicition BEFORE any meaningful rapport will ever be established with even a single customer. It is illegal, I suppose, for an individual to walk into a candy store and take $25 dollars from the till, declaring that 'they say' a debt is owed. This would only be common sense. But if a Bank were to do the same thing in calculating your Bank Balance, then the whole thing is just one big misunderstanding. Or is it a deliberate misunderstanding? It is Fraud plain and simple.

Now, I do understand the Government's need NOT to enforce Law, in any instance, or in any case; and I do understand the Bank's demand to steal our money. I also understand the Bank's opinion that we all OWE THEM A LIVING. I do hope that I am being at least polite in pointing out to you that you are full of sh*t, in return.

Please do not steal money from Bank Depositors, and do not expect a Bear Market to end of itself. It is Reform itself which rights the ship. Nothing happens uncaused. Your arguments are not only anti-intellect, they are complete nonsense and an affront to any reasonable man. But this is what causes mistrust, the Foundation of all Bear Markets. I do wish you luck in resurrecting a Financial System on the premise that the Bank has a right to steal from it's customers. I doubt that it will work at all, but you are welcome to try and be proven wrong again.

The Reforms necessary are the reimposition of Glass-Steagall, the elimination of Leverage in securitizing Bank Products, and the elimination of 'phony bank balances' for the imposition of Fees. Otherwise, we will remain forever in the Dark Ages of Theft and Greed created by our Banks in the first instance.

Do you know what money is? Chances are if you're a normal human being you've never even asked the question.

A great 40 minute animated film on the subject, "Money as Debt" -- a must see:

http://www.silverbearcafe.com/private/moneyasdebt.html

"The central theme of my book is that a group of people had ideological blinkers" This was enough for me to read, I didn't need to read the rest of this interview (even though I did) once I read that sentence because the whole blinkers theme is a minor detail to what actually happened. In fact I think it would be more accurate to say that the ideological blinkers caused a collective decision to be made to not regulate the financial markets. So political power was actually ceded (maybe even gifted is a better word) to the corporate financial sector who have taken the ball and run with it ever since. The current result of this fiasco is in plain sight with Wall St using its political power to extort trillions of dollars from the taxpayers. Wall St. has successfully infiltrated not only the last administration but the current one as well and the end result of this will be anything but good. Greed is still in charge and the only ending I can see from the current trend is a bankrupt country. Wall St only knows unfettered greed and one only has to look at the editorials from the financial newspapers to see this in spades.
Most of the ideological political and financial ideas that you see in print are utter BS. Ideology is just a means to achieve and end. Just take a look at the "conservative" politicians in power these last 8 years. They are a perfect example. They just wanted power, had no interest in actual governing and abandoned their ideology as soon as it was inconvenient. Just so, all those "free market capitalists" are nothing more than free market hypocrites who have abandoned their ideology as soon as it becomes inconvenient or something more lucrative comes along. So while all this talk of ideology can be interesting, it is completely beside the point. Money and power is the name of the game.