Thomas Sowell: Federal Reserve a 'Cancer' [video]

It was a common (and natural) reaction leading up to and post 2008. Today you won't see as many people on prime time cursing the Fed.

We already had the Free Banking Era where individual Banks issued their own coin. It made the financial system extremely chaotic and unstable. There was constant fluctuations in currency, bank failures, panics etc. And as the economy gets more and more complex and interconnected with other economies, an unstable financial system is non optional. Throw in wars, pandemics, natural disasters, famine etc and things get even more insane. This is why defi/crypto is doomed to follow the same path as the chartered banks of the Free Banking Era.