Because if the current system favors the bankers, the previous system sure as hell favored the bankers. Is it the bank runs?
I guess I should say this is all academic now, since we're about a month an a half away from Weimarizing the dollar lmfao. We've been kicking the institutional legs out from the stool for a while and we will discover the virtue of an independent central bank whether we like it or not.
I would prefer a social credit system (not the Chinese kind, the other kind) where the money supply is managed for the public good via a citizens dividend tied to the productive capacity of the economy, coupled with making gold buying/selling tax free as a savings (and monetary disciplinary) mechanism.
I have the advantage that this system will never be tried, and therefore I can never be proved wrong.
Ok. We'll see how that shakes out in a year or so. Most folks in the west have never lived in a country where a dictator controls the money supply. It's REAL easy to shit talk the US or even european central banks are when you have no idea what the alternative is.