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The Real Story of Money
This guy says it so directly and simply. Really great.
On a related note:
Asshole (the Drinking Game)
This guy says it so directly and simply. Really great.
On a related note:
Asshole (the Drinking Game)
I believe that lending at interest is useful, obviously. In addition to what you mentioned, it allows the "fixed cost" problem to be overcome, thus preventing "natural oligopolies" from forming.
The problem is that the source of capital is itself monopolized by restrictive laws (ostensibly designed to 'protect' us), thus creating unnatural oligopolies everywhere in the economy. The best thing would be to get rid of the chartered banks and allow anyone to lend any way they want to.
As far as public central banking goes, the government would actually be less harmful because they would mostly only print money to cover their own spending, and not as part of a massive private scam. And it wouldn't be debt based.
Of course a private banknote system would be best, where moneys could compete unrestrictedly.
There's a pattern I've noticed where quasi-private institutions are more harmful than fully nationalized ones. You're subsidizing costs, while privatizing profits. So the incentive is to expand to the limits the system can handle without collapsing.
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