The idea of state-owned banks

Is a state-owned bank a good thing or a bad thing? I don't know anything about them.

Considering that the only value our money has is the fact that it is guaranteed by the United States, I fail to see why any one should be concerned.

Besides, look at the mess those uncontrolled bankers made of things.

The basic problem: Banks are basically creating money out of thin air and LOANING it to the federal govt. with interest while the govt. could as easily print the money itself WITHOUT us having to pay interest on it. People in past ages who have figured this one out include Ben Franklin and most of the colonists prior to King George II, Abraham Lincoln, William McKinley, and Adolf Hitler.

Particularly in the case of a large industrialized state like England or Germany, the present banking system is such a drag that the country only has to get out of it for five or six years and its economy will turn upwards almost exponentially. Germany was a total basket case in 32 and the first thing the Nazis did on taking power was pull it out of the international banking system, and they were totally out of the depression and sitting on top of the world by 37. The big question is what Hitler thought he needed a major war for since it sounds like the whole thing would have just fallen into his lap in another five or six years.

Hitler thought the state was organic and needed more land to continue to grow.

I guess for those who haven't seen this, it's a good watch, very enlightening, or if you're a non-believer, at least super entertaining.
It's a documentary about U.S. monetary system, it's history, where we are and where it leads.

http://www.youtube.com/watch?v=1gKX9TWRyfs

These people are basically right in thinking that the power to create money has to be taken away from banks. Just one basic problem as I see it... Any sort of a money system has to involve major elements of trust since people's whole lives are bound up in money.

Who're you going to trust to create debt free money? Governments?? I mean, on a scale of one to ten for things I trust, governments are at the bottom of the scale and not the top. The one well documented and large experiment we have for governments creating their own money is the Adolf Hitler story, which does not feature a happy ending.

The two best things I could come up with as organizations you might want to have the power to create money would be churches or something like that People's Bank in BanglaDesh.

The math of this fricking thing (fractional reserve banking) at ten percent looks like this more or less in simple Python language


base = 100
total = 0
while base >= 1:
base = base * .9;
total = total + base;

> total
891.2720364319124

That explains what the **** Kissinger, David Rockafeller, and Tricky Dick were doing back in the mid seventies when they set up the deal where we protect the Saudi royals forever in exchange for them only taking US dollars for oil. The Saudis got the asshole end of that one i.e. for every dollar they ever get to collect interest on Chase Manhatten collects interest on 8.91272 dollars. I mean we all know what the Saudis do with the asshole end of the thing i.e. buy yachts and palaces for themselves and pay everybody else to sit around inbreeding inbred kids so that nobody in the place has to work but what the **** are the Rockefellers doing with the gargantuan sums of money which must comprise the lion's share? Buying other planets for themselves and not telling anybody about it???

more...

http://www.youtube.com/watch?v=8q-t-_tdrIU

Glad somebody gets something out of it...

Banking and the nature and creation of money were the biggest political issues in the US in the 1800s and figure to become such again shortly.