Many ordinary people must be wondering why prices have skyrocketed and why they are finding it more and more difficult to get by. Is it best to just keep holding your wages in the bank, or is it time to get them into another asset, like bitcoin, that can offer some protection?
Banks have morphed into very different organisations
Banks have been with us a very long time. Previous generations might have been far more respectful of banks, recognising a need for their safety and security, or a potential place to get a much needed loan.
However, these days, the role of banks seems to have very much changed. Instead of the secure and risk aversive establishments we used to know, banks appear to have morphed into risky corporations that have been granted huge powers over those whose money they hold.
Fractional reserve (having to hold at least a small portion of your customer’s funds in the bank) has gone out of the window, and now some banks are all in on risk, somehow confident that if the
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