The problem is that money isn't a thing that needs to be created. It is a commodity chosen by the market, not a governmental mandate. See Steem and Bitcoin as examples.
The government holding a monopoly is not a solution. The banks only hold a monopoly because the government monopoly in violence transferred a portion of its monopoly power to its corporate cronies.
No argument from me on this point.
I do not mean that the Govt should have control either.
My main point I wish to make is that at least when money creation is done by the Govt it does not have interest attached to it as it does when when banks create it. Creating a debt based economy from day one. We see now how with the creation of Bitcoin it has not debt attached to it and people are learning to take control of their own money effectively everyone becoming their own bank.
We have a long way to go as yet but I think with blockchain tech we are one step closer.
Thanks for the engagement!
It is the banks that have the monopoly.
The problem is that money isn't a thing that needs to be created. It is a commodity chosen by the market, not a governmental mandate. See Steem and Bitcoin as examples.
The government holding a monopoly is not a solution. The banks only hold a monopoly because the government monopoly in violence transferred a portion of its monopoly power to its corporate cronies.
No argument from me on this point.
I do not mean that the Govt should have control either.
My main point I wish to make is that at least when money creation is done by the Govt it does not have interest attached to it as it does when when banks create it. Creating a debt based economy from day one. We see now how with the creation of Bitcoin it has not debt attached to it and people are learning to take control of their own money effectively everyone becoming their own bank.
We have a long way to go as yet but I think with blockchain tech we are one step closer.
Thanks for the engagement!