Here’s The Good News: Banks Will Be Obsolete in 10 Years

Posted by Simon Black - The Sovereign Investor

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innovationsEvery few centuries or so, an amazing new technology comes along that fundamentally changes human civilization.

There are so many other examples throughout history. The Agricultural Revolution. The Industrial Revolution. The invention of the printing press.

The printing press was a particularly interesting parallel for what’s happening today.

Before the printing press, people were living in the dark. Their information was heavily controlled, and they were forced to rely on the ‘authorities’ for personal, financial, educational, and spiritual guidance.

The printing press changed everything. It was an extraordinarily powerful social technology that spawned entire political revolutions and the rapid advance of human education.

In Europe, the number of printed books went from millions to literally billions.

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