This is not responding to the point of my post.

There exist bankers who do produce enormous amounts of value. Take an investment banker who makes the correct decision as to where to allocate a billion dollars. Say the company he allocated it to has a production efficiency 30% above average, and any commonly available system would have selected a company with "just" normal efficiency.

The banker in effect created productivity equivalent to the value of 300.000.000 dollars! Even if he gets paid a hundred million for it, that's still a damn good deal for everyone.

We can go into detail as to why such things can happen and how often they should happen, but that's statistics and should not affect how we see the moral issue. It's also not something for anyone to judge on a whim; we'd need a rigorous model which nobody might have yet.

Again: please distinguish between bankers who just do their jobs and those who actually cheat their way to other peoples' money! Earning a lot of money does NOT equal being an evil person or being harmful to society, because trade and investment are NOT zero-sum games. People who don't make that distinction just aim for stealing from the wealthy and sharing the loot. That's immoral, and very damaging to society.

Just go hit on the central bankers who print too much money and even buy government debt with it. And on those who got ties to politics and take "bail-outs" tailored for their poor little special bank. THAT is immoral.

I'll take all of your coins. And cash. For pennies.

this time it will be different. just watch

lol!  where do u get all the great gif's?

i don't understand

17.80..



We went TOO fast, we are now sinking. See you at single digits!

How I like bursting bubbles....

Proudhon, get on your main account, you aren't fooling anyone.

$0.05 by the end of the week ....  

$0.05 per mBTC that is.

A short squeeze maybe ongoing somewhere....

Aaand it's gone 

What happened? :-)This rally is American bull? Alarm 18$ woke me up :-)

Why is it that everyone correctly talks about the wrongs of money printing and central banks, but then accuses all bankers in general?

Some of them are hard-working people doing a productive job. I'd prefer it if we keep the angry comments aimed at the ones who cheat by printing money, spreading misleading information or engaging in corruption. It might not be good to take a stance like "we are the 99%, so now we demand money from whoever has more of it than we do". I agree many rich people got their money through questionable means like constructing monopolies or lobbying with politics. Yet there are those who did no such things. They have a right to do whatever they want with whatever absurd sums they control -- because they earned that money in fair trade and that's that. (Also, history shows that punishing people for performing extraordinarily is no good strategy.)

The money supply is handled through transparent auctions in most places, so it's fair to say that "normal" bankers can predict inflation no better than any other trader. I don't see a fundamental flaw apart from the central banks' insane bond buying and excessive tendency toward inflation. The other problems stem from corruption and bureaucracy, so that's part of the more general problem of defunct politics.

And I don't get the inter-country inflation competition. How does that solve anything? People can export more to get devalued money in return? Great plan.