'Bout time

The commercial banks are part of the central bank-regulated monetary cartel that effectively controls the country by means of debt, fraudulent money creation, capital misallocation, and insatiable wealth accumulation.  Nonetheless, to the degree that retail banks still serve a useful purpose in society, the news above is good news, increases consumer choice, and is the free market working in ways that have been all too absent in our oligopolistic banking market here in SA.  More banks = a more just banking system, and more consumer choice = more freedom.

Happy banking on Sundays…