Monday, July 12, 2021

Why we need banks

HillFor some people, a traffic ticket is just a nuisance: pay the ticket and move on. But for many Americans, the inability to pay a ticket or fine, often for a minor infraction, can kick off a harmful chain of events. Starting with having their driver’s license suspended, drivers are then faced with a tough choice to stop driving — and lose access to work and necessities — or keep driving with a suspended license and risk more costly fees, arrest, and even jail time.

Now that the Fed is killing off the retail banking sector this problem is much worse.  Normally even a poor person should be able to borrow and pay this liability later.  But banking has been corralled into the tax collection game, mainly to cover our bankrupt government.

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