I do not know…

I have tried to compare the current financial system with a machine. A machine which after being used for a long time becomes obsolescent. I could however not find a reasoning that would satisfy an answer to the question raised in the title. Money has been used for a very long period of time and is still being used all over the world.

But money is an umbrella definition of a trade instrument (like a dollar and a euro which are created in a monopolistic environment). So I then tried to look at this question from a different point of view. I have tried to look for examples in history where there have been monopolies in sectors for a long period of time. In the end all these monopolies have seeded to exist. Sometimes due to human ingenuity, overproduction, other times by obsolescence and perhaps also after a period of time due to lack of existence/total depletion.

Can the current financial system be described as a monopolistic system? Is it different when the existence and continuity of a monopoly is enforced by law? In history there have been many examples of situations in which a monopoly has been misused to the advantage of the few. Is this the case with our current financial system as well? Is the current financial system misused by the few? Who has benefited from the monopoly? Who benefits from QE?

Perhaps the answers to the above will provide us the answer to the question raised in the title….