Fixed interest model can work if there is a mechanism to shrink money supply and to forgive debt. Jubilee is necessary to relax the system. Things did work for a rather long time, it is with financial shenanigans, proliferation of wallstreet, and similar zero-sum games and their entaglment with central banks that everything started breaking. The real cancer is the FED and their indoctrination of the banking systems around the world. They cannot aford to have sane competition.
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I agree wholeheartedly with the second part. On the first note, if it will work or not with fixed interest we’ll have to see! Time will tell—but im not so sure! I could be wrong though.
I think works of Steve Keen and Richard Werner give more positive outlook on the roles of banks and credit in tye economy. Made me less critical of banks as such, and more focused on the root causes -- the centralisation of banking system.