Today, in maalamalama Podcast #5, we discuss “Everything Wrong With Banking Today.” Of course, we literally don’t discuss everything wrong with banking today, because such a task is so monumental that our podcast would last for weeks, instead of just the 30 minutes or so duration of Podcast #5. Too many people misunderstand our topic of what is wrong with banking today when they make the counterarguments saying banking must exist today for the convenience of providing a medium of exchange for goods and services in society. We have never argued with this point since day one of our blog when we started posting the truth about the banking industry in 2006. However, there is a way to operate a system honestly and with integrity for the benefit of the people and another way to operate a system dishonestly and inherently with fraud to the detriment of humanity. The banking industry is firmly entrenched in the latter operational platform today. By exposing the systemic dishonesty of the banking industry today, we are not calling for the abolition of the banking industry. We are merely calling for the abolition of all the fraud, dishonesty and deceit within the banking system and a return to honest banking principles that serve the people instead of only serving the wealth trajectories of the CEOs of Goldman Sachs, Citibank, HSBC, ScotiaMocatta, JP Morgan, Bank of America, etc. and the families that own the world’s privately-run Central Banks.
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