Hi clo,
I'm not going to defend the way credit card operators function!!
Sure, there are bad actors in the system. That's why I favour a layer of market control and remediation. I don't expect everyone to behave equitably or even legally. There's a reason for the existence of laws and I support the concept of a Consumer Protection Agency. I don't think the markets are always right. That's just a slogan.
Even so, I disagree with doma's critique of the fiat currency system and the use of debt for certain purposes and the usefulness of a central bank which is able to act as the lender of last resort (compare with the problems in Europe in which the ECB has its hands tied).
| 
