Your second is your belief that convoluted imaginary structures to facilitate the breeding of yet more paper currency out of existing paper currency while bleeding the general population dry are 'good and needed.'
Yes, that's the logic short circuit that he can't seem to see "OMG banking system has huge faults which make it inevitable it will blow up any time..blah blah.. blah.. lets replicate them in detail in bitcoin."
Where the blah blahs are ever decreasing circles of irrelevance devoted to trying to confuse people with average IQ into reverence for his fantasy rooted "superior knowledge".
I can't believe he's ever been in charge of anything more consequential than a mail cart by the way he can't put forward a concise, well delineated proposal. What we get is a halfassed vague solution that he spends the next several pages scratching up badly defined and dubious problems for it to solve.