Comments by "Roger Smith" (@rogersmith7396) on "51-49 with James Li" channel.

  1. You mean get rid of Wall Street. ASAP.
    2
  2. The banking system is illogical having started before the creation of the nation state. At that time it was a rich individual(King) lending money to a few favored cronies. Every one else paid cash(barter). Currently taxpayers send money to Washington which then gives it to banks to add what amounts to a convenience fee who then loan back to said taxpayers, in other words a high priced middleman. Why not cut out the middle man and apply directly to the Treasury for a loan backed by a $21 trillion GDP and an entity who can literally print money to make up any shortfall. The current system is a taxpayer subsidy to the private banking industry. I would never outlaw private banking as there are always credit unworthy persons looking to make unwise loans and preventing it would be mostly impossible. But that would be a matter between the bank and individual with no consequence to the Federal system. The invention of the installment loan took the cap off of reasonable pricing and has given us unaffordable products as we see today. But of course the private lenders get their money up front on every transaction. Then its somebody elses problem(taxpayer).
    1