Farley on Nostr: How Banks Might Respond (and Counterarguments): Argument from Banks: "We provide a ...
How Banks Might Respond (and Counterarguments):
Argument from Banks: "We provide a service by creating liquidity and enabling economic activity."
Counter: While banks facilitate economic activity, they do so by creating claims on future time and resources that they do not own. This process is exploitative and undermines individual autonomy.
Argument from Banks: "Debt contracts are legally binding agreements."
Counter: Legality does not equate to legitimacy. If the foundation of the contract (the claim over future time) is inherently flawed, then the contract itself is invalid.
Argument from Banks: "We provide a service by creating liquidity and enabling economic activity."
Counter: While banks facilitate economic activity, they do so by creating claims on future time and resources that they do not own. This process is exploitative and undermines individual autonomy.
Argument from Banks: "Debt contracts are legally binding agreements."
Counter: Legality does not equate to legitimacy. If the foundation of the contract (the claim over future time) is inherently flawed, then the contract itself is invalid.