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I have this theory that during periods of intense creative destruction, old institutions that survive at all turn into de facto banks, defined primarily by assets they manage to freeze and build moats around. Eg. Catholic church during reformation turned into a real estate bank
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Yeah, I'm generalizing that observation which several people have made, most recently Rushkoff. I think you can draw interesting conclusions if you generalize idea of a "bank" to any institution that creates rents out of long-lasting assets that can survive institutional churn
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You could argue that the main thing being "sold" in any transaction is a subset of affordances, risk surfaces, and yield streams of a thing. 100% transfer is rarely in the interest of both parties given their information and risk/return preferences.
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This is a great insight. Now look at $40,000 a year for college + lifelong student debt as "usury" rather than an education AND IT ALL MAKES SENSE. More banking is happening than education without a doubt.