The futility of bank regulation in a repressed monetary regime

I have admired the writing of Mr. Snider for some time now. His latest missive is long and detailed, but I was impressed by this passage:
There is no way to practically regulate “risk” under the conditions of repression.”
This insight is similar to number myth number five in my essay Six Myths of Money and Inflation, to wit:
Myth 5: More, better, and more vigorously enforced regulations can prevent loan and investment losses.
The purpose of monetary intervention is to fool entrepreneurs and their bankers into beginning projects that would not be seen as profitable in a sound money environment. Losses are inevitable.
Patrick Barron
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