Regarding the article in general, unproductive speculation in real estate (as well as, by the way, currency and commodities — to include energy — the three together being the basic resources for producing goods and services) should be banned because such speculation is detrimental to the existing economic system as a system. It leads to the misallocation of resources, drives up the cost of doing business, and creates instability (via speculative bubbles). The result is economic inefficiency on a systemic scale.

Regarding the specific quote, that was before the centralized, hierarchical monster that is 'civilization' was born. In the turn to civilization money became a source of power to be hoarded and controlled by the most powerful: rich/powerful is the symbiosis of evil.

My studies have taught me that we don't have to change the form or the nature of the banking system to liberate money for 'the people' from the control of the monetary overlordship. The way justice (as I have come to understand it) calls for doing that, bankers would have no grounds for complaint.

They would definitely howl at any hint of re-regulation of banking (to bar them once again from unproductive speculation), but in every nation, democratic or not, we the people hold the ultimate power. It is up to us to act like it, by exercising our powers of speech and peaceable assembly. Those of us living in democratic nations have no excuse.

Ultimately, we need to reform civilization itself. For that, we need an advance in our understanding of justice, one that would take us “Beyond Liberalism.”

Linked articles are here in Medium, but not behind the paywall.