Do you want to go back to pre-fractional reserve banking, as in "the old country", when a couple had to scrimp and save for 3/4 of a lifetime to be able to buy a house or half a lifetime to buy a car? . Do you like living in your in-laws basement?
Oh, how I hope you are wrong. But There is going to be an attempt to put it back together for sure. Should be interesting when the tanks roll in.
Here are the devastating consequences of this fractional reserve system. This is the stuff they will never teach students in finance or economic classes...
U.S. going full on crazy: "Trump is the President. He won by a Landslide." "The Jan 6th event at the Capital was caused by a bunch of Tourists being attacked by Capital Police."
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." (Henry Ford)
That quote was from only two years after the U.S. Central Bank was established in 1913. The Banking acts of the 1930s changed everything. Today's Federal Reserve System has little in common with the one established in 1913. The Banking that Ford knew prior to 1913 was what inspired his comment and the 1913 Act was in response to these problems. Had Henry's assembly line workers understood Henry they would have walked off the job sooner then the actually did.
I like how everyone likes to discuss fractional reserve banking as if anything is gonna change. I can tell you schools are selling cacaine to your kids in school and there'll just be a discussion about it. They're just going to keep doing it, nothing you can do so screw it.
The real world also includes the ability to say I'm going to go work somewhere else because you are not paying enough. In that case, If nobody will work for the amount I am willing to pay, then I have to pay more. Supply and demand works with employment too.
This is true in the Seattle area too. Particularly out on the island I live on nearby. You pay what they ask or you do the job yourself. Supply and Demand applies to workers as much as anything else.