Yea Richard has some weird notions about banking and bitcoin. Hes pretty based but misguided imo.
I would rather let banks fail but if youre gonna have them they should be focused on production not speculation. I think thats the fair steelman.
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The keyword is always “should”. “Should” usually implies a diktat…coercion. Unless a bank is committing fraud, ie theft, then it’s fine. Who has the right to say what an entity “should” do if they’re not violating the NAP? Thinly veiled socialism.