Well, there could be some counterarguments.
> Allows you to get a mortgage
Wonder if that was always so? Didn't people manage somehow to have a house without something which name suggests it will be paid for the whole life?
> Allows you to protect yourself with health/car/life/home/title/etc insurance
A casino, right? On average you lose, but for a price you buy a hedge against unforeseen? At least unforeseen for you?
> Pays for your highways/stadiums/schools and other public works
I thought my taxes pay for that :) . Do you mean "finances" as "machinery which helps moving money"? I think there are several definitions there.
> Protects your deposits
That's great and helpful
> Pays for your retirement
Nah, that's those same deposits. I largely pay myself for retirement, by saving the whole life. There is also an element of "societal insurance", when I pay a little extra to help myself in case I suddenly become disabled. Or dead. Or, well, not so little; that depends.
> Funds the college fund that paid for your school
Again, it's either another example of "moving money", or an oddity - as people managed to get educated even without banks.
> ... Or the student loans that allowed you to attend school
Same thing.
> Supports the global supply chain that brings you your iPhone, stocks the grocery store/your favorite restaurants with food, and puts the clothes on your back.
Yes, that's another important role - bringing together lenders and borrowers, for a fee. One ought to assume the fee in the computerized XXI century should be small?
> Funds the growth of corporations large and small, giving you the job that allows you to buy an iPhone
Same thing. Banks don't "fund" - they "serve". Money aren't theirs, but theirs', banks', depositors.
> Funds the massive philanthropy expenditures that help those in need everyday
Talked about that already.
> Pays the pensions of the elderly
We already talked about that.
So, to boil down - banks provide money-related services, like "guarding" deposits (you pay for the privilege) or "investing" deposit money (you ought to share risks and benefits). Other than that...
> Allows you to get a mortgage
Wonder if that was always so? Didn't people manage somehow to have a house without something which name suggests it will be paid for the whole life?
> Allows you to protect yourself with health/car/life/home/title/etc insurance
A casino, right? On average you lose, but for a price you buy a hedge against unforeseen? At least unforeseen for you?
> Pays for your highways/stadiums/schools and other public works
I thought my taxes pay for that :) . Do you mean "finances" as "machinery which helps moving money"? I think there are several definitions there.
> Protects your deposits
That's great and helpful
> Pays for your retirement
Nah, that's those same deposits. I largely pay myself for retirement, by saving the whole life. There is also an element of "societal insurance", when I pay a little extra to help myself in case I suddenly become disabled. Or dead. Or, well, not so little; that depends.
> Funds the college fund that paid for your school
Again, it's either another example of "moving money", or an oddity - as people managed to get educated even without banks.
> ... Or the student loans that allowed you to attend school
Same thing.
> Supports the global supply chain that brings you your iPhone, stocks the grocery store/your favorite restaurants with food, and puts the clothes on your back.
Yes, that's another important role - bringing together lenders and borrowers, for a fee. One ought to assume the fee in the computerized XXI century should be small?
> Funds the growth of corporations large and small, giving you the job that allows you to buy an iPhone
Same thing. Banks don't "fund" - they "serve". Money aren't theirs, but theirs', banks', depositors.
> Funds the massive philanthropy expenditures that help those in need everyday
Talked about that already.
> Pays the pensions of the elderly
We already talked about that.
So, to boil down - banks provide money-related services, like "guarding" deposits (you pay for the privilege) or "investing" deposit money (you ought to share risks and benefits). Other than that...