Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
first, if banking profit is inflationary isn't all profit inflationary?  If I sell a widget for anything beyond my cost of goods and labor aren't I in the same position?  Isn't the fee charged by ZOPA also inflationary?

Secondly, I have no problem with your thesis that banks are no longer necessary.  I suspect you are wrong, but that is not important.  However, "not necessary" is very different from "dangerous and leading to the collapse of the world as we know it" (to risk putting words in your mouth".

Third, thanks for the Hilton example.  However, I question how that structure really differs from setting up a corporation or trust, issuing shares and then divvying up the proceeds based on performance like any other REIT or corporation.  I don't have any problem with the structures you describe.  I just don't see any substantial difference (other than the eruv style  window dressing to please religious types).  

As for Hong Kong and central banking.  They have taken a candy ass approach and just linked themselves to the US Dollar like a limpet.  No real need for monetary policy when you use someone else's.  

The rest of your description all sounds very nice.  But I can't pierce the marketing to detect anything beyond a trust based network with no powerful regulator or risk guarantor that would protect my investment.  no bid.  I don't have time to vet every loan in the syndicate to decide if I wish to participate.  That's what I pay a bank to do by accepting a lower return.

by HiD on Fri Jan 19th, 2007 at 06:04:17 PM EST
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