Banks need Boundaries! Banken in die Schranken!

Banks need Boundaries!

Is it good or bad to leave our money supply in the hands of profit-seeking private banks?
Answer: Any kind of monopoly is tricky!

Some say, it's best to leave it in private hands, because the state cannot be trusted. They point to previous calamities with hyperinflation.

However: letting banks create money also lets them decide what to create it for*).
All too often, they choose speculative capital, which can trigger and/or worsen crises. It is particularly damaging when capitalists corner the market in essential resources.

*) and at what price (interest rate)

Michael K. for

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