Originally posted by StinkyFeet
reply to post by Historical-Mozart
Just what we need government run banks. Like that won't turn disasterous. Plus the states don't have any money so what are they going to use to
start a bank. Don't you need some cash?
Yea, I get your point about gov't run enterprises. I favor a far-better economic model, but, given the current financial structure as we know it
and, given the short time that we have between now and 2012, the state-based banking model can work.
But it would have to have two things for it to work:
1) A new monetary unit, like US Treasury-issued dollars to replace the Fed Res Notes and,
2) It should be operated, not on a state-based level, but a county-based level, where the new banking model can have the greatest positive effect on
the local economy. Fix the local economy, you can then fix the state economy, then the national economy. True recovery starts at the local level.
And a newly-chartered bank does not need to raise any existing cash -- it can simply create new cash out of thin air, just like how the Fed does
it.
But, like I say, I favor a far-better banking model that would work extremely well, empower people and revive the entire economy with astounding
speed, but there probably would be too much institutional resistance to this kind of new banking model, so I don't know if I want to even bother
putting it out there.
So, given the entire current banking structure, a locally-owned banking model, based on the county level and based on new dollars being issued by the
US Treasury, this kind of new banking model can work to revive the entire nation within the current financial structure as we know it.
