Did you realize that you just became a Marxist you pompous sad unfeeling soul. You have moved yourself from the dispassionate observer hoping to help everyone understand and gain some understanding, to clueless twit, to shill of the world financial order in a few very short posts. This is an amazing screed. It really is.
To view this as just part of the march of historical process, never mind that it ruins the lives, entire lives, of major portions of populations, is Marxist. That is Karl Marx and what he stood for and what he wrote about. That complete unfeeling unthinking jerks like you would not care is how Marx and Engels sold communism as the antidote. So keep it up. You are walking down a well-worn path towards historical oblivion. There must be a special place in hell for folks like you who would see a problem that happened in history and attempt, not to avoid it, but to deliberately repeat it, knowing that it will come out the same way again this time.
And all the doom selling snake oil charlatans demanding we give up our essential liberties
Who is demanding you give up essential liberties?? Some of us are demanding we take back some essential powers we never gave to the government. Or are you defending your constitutional right to the output of a free printing press of fiduciary fiat currency? I think that that is it.
I don't know of anyone around here who is demanding doom and gloom or selling snake oil to deprive anyone of his liberties. Instead a lot of us think that the overly free expansion of credit by the Federal Reserve (and get this through you thick dense skull, no reputable economist thinks anything other than that the FED does control the expansion of money and credit - your idiotic snake oil aside) has so distorted our economy that very little makes any sense any more, and that a bit less of it, and a lot of ruination of entities that do nothing productive, would help put us back on a sound economic footing.
The world financial order will merrily ignore your withheld approval and crush its critics under the triumphal car of progress, without batting an eye or even much noticing. And you are standing out on a streetcorner in a washboard screaming "the end is nigh". Well, the end isn't nigh. Every sane man knows it. You just aren't one of them.
Finance isn't theft, and no you may not get the government to outlaw it by force.
As for finance "distorting" the economy, every action by any entrepeneur, successful or unsuccessful, of any appreciable scale, has precisely the same effects. When they reposition assets successfully, they add to net wealth, but also move it around enourmously and change the real value of everything anyone holds. And when they reposition assets unsuccessfully, they reduce overall wealth, and again change the real value of everything anyone holds.
Some men want to pretend that is "theft", because it changes the value of some commodities they freely choose to hold. But if the government is to outlaw as theft, anything that does so, then no meaningful economic liberty will remain.
See, I flat deny that a banker making a new loan in a way that increases the money supply, is any different, at all, from any other entrepeneurial action with risk attached.
I also flat deny the pretence that it is the government, and not a lot of private bankers with their own tails on the line, making such new loans.
I also flat deny that it is in any way a "rigged" set up, or that you are in any way harmed by it. If you think the bankers have it easy, you are welcome to join them by holding bank stock, instead of lending to them (which is what holding dollar balances instead, is).