this post was submitted on 29 Nov 2023
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The banks would never allow it because it would put them out of business. The real question is whether that's a good thing, and my gut feeling is that it probably is. They are just rent seeking and it likely provides negative value to the economy in real terms.
But I think even with the limits being proposed, it could at least be a good thing for people without a lot of money who tend to get bent over hard by the banks.