Comment: Yes, suffering crimes and cons is part of the human condition.

(See in situ)

In reply to comment: False fronts (see in situ)

Yes, suffering crimes and cons is part of the human condition.

In 1913, the US 'Con'gress institutionalized crony capitalism, aka mercantilism, aka political Fascism.

The First Bank of the US was created in 1791 as demanded by foreign creditors. (using Alexander Hamilton).

From 1860 to 1913 was the National Bank Era.

From 1913 to present is the Central Reserve Era.

Andrew Jackson paid the foreign debt in 1835 and let the charter of the Second Bank of the US lapse.

From 1836 though 1861 was the Free Banking Era.

For 192 of 222 years (86%) since the Ratification of the Constitution the people have been afflicted by the plague of a Central banking authority.

For 30 years only has the possibility of banking without government competition existed.

I concede that fraud in banking has been rampant.

In a free market, where voluntary exchange and contracts were the rule rather than the exception, such frauds would have been minimized by the threat of bankruptcy and brand disgrace.

Have I missed anything?

In later episodes we can discuss Free Banking: Full vs Fractional Reserve.

Free includes debt-free!