China's former chief economist has excoriated the nation's banking system, which charges high fees and maintains a greedy-large gap between its deposit interest and lending interest rates.
Such a business provides no value, and is merely parasitic on the people: "With this kind of operational model, banks will continue making money even if all the bank presidents go home to sleep and you replaced them by putting a small dog in their seats."
As always, Terry Pratchett was way ahead of the game, proposing exactly this solution in the his brilliant 2007 novel Making Money.
(Image: small dog., a Creative Commons Attribution Share-Alike (2.0) image from p1k3's photostream)
Choices. https://t.co/o3bJPCDApG pic.twitter.com/uYrI6mype5 — Cliff Pickover (@pickover) August 10, 2019 I can only hope that there was a second chance. (via Daily Grail)
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