Time to Blow Up the Banking System

Former Greek economic minister and economist Yanis Varoufakis proposes a Central Bank account for every citizen, worldwide:

In summary, the time has come to reach an inevitable conclusion: the banking system we take for granted is unfixable. That’s the bad news. But there is good news. We no longer need to rely, at least not the way we have so far, on any private, rent-seeking, destabilising network of banks. The time has come to blow up an irredeemable banking system which only delivers for property and share owners at the expense of the majority. Coal miners have found out the hard way that society does not owe them a permanent subsidy to damage the planet. It is time for the bankers to make a similar discovery.