Simply in order to grow up to adulthood, one must be gifted an enormous amount of capital. That does not mean that competition is stifled.
Capital-owners will always find it in their interest to invest capital in order to earn back even more capital. This is what prompts them to become bankers. They have no interest in stifling competition. To the extent that anti-competitive practices are imposed, it is because the least efficient capital-owners want to forbid the more efficient from competing with them by lending and earning capital.
“Some of these capitalists, over very long periods of time, will come to recognize upcoming capitalists with the ability to produce a lot of capital goods. They will use the capital that they themselves have accumulated through their productive talents and lend it to these upcoming capitalists at interest, in the expectation that their productive ability will exceed the rate of interest and that their own capital will grow as a result of their accurate selection of rising capitalists. These individuals will form the banker class.”
“Not how banking works at all. Banks bank money, they don’t use their own personal money. Bankers don’t lend money out of their own salary, they lend our bank deposits.”
i am not sure what you mean when you say not how banking works at all.
are you saying bankers dont lend out money whatsoever?? are there any bankers that lend money…their own, that you may not be aware of??
are you distinguishing in some way that currency…paper/coin and regulated bank credit (that i have read about, if true?) is what bankers lend?? or something else altogether? my deposit agreement with wells fargo says they make FUNDS available. funds in the form of paper dollars/coins or check/debit card withdraws.
when yousay not how banking works at all are you simply referring to the use of the word capital?
i have very often heard the word capital used to refer to dollars.