crutis

We Need a New Organization to Handle Systemic Risk

We need to eliminate systemic risk. Anyone with half a brain in the computing field knows that the most robust, resilient large-scale systems are distributed (think google's multiple data centers). Consolidating banking power inherently increases the damage done when the central authority makes a mistake (and boy, they've made some good ones so far). We need to unwind the Federal Reserve and create a truly free banking system. This localizes failures, prevents booms and busts, and most importantly makes the banking system far more immune to political pressure.