A central bank is not needed to establish a national currency. What you read about was the early implementation of debt notes - which could be exchanged for silver or bullion.heydaralon wrote:What would you like to see in place of a central bank? I am inherently distrustful of large banks the same way that you are, I am just not creative enough to think of a viable alternative. If our society was organized differently, and not as interconnected to the rest of the world it might be easier to envision a more spread out localized financial system. But I think that leads to other problems as well. I remember learning about how local banks would issue notes that would only be good in certain areas and this led to all kinds of problems as well. I may be remembering this wrong, but having a currency issued locally led to mini-panics, and questions of legitimacy.Speaker to Animals wrote:They just don't see it because it's hidden behind so many layers. They have been tricked into believing their tax rates are morally good things, and even then, the taxes are so dispersed and confusing that it's difficult for many of them to realize they are paying an enormous tax rate when you add it all up. Then they don't see the impact of the inflation very easily and how that too is like draining them of their labor.
At the end of the day, the central bank is stealing your labor for the profit of bankers. The average American man is probably working at least a month if not more just to pay the interest off on those dollars. How is that not slavery? Did Joe Blow get a say in how our monetary system is run? Did he get a say in how the financial system would steal from him? Not really. But he is expected to work for some time for the benefit of those banks.
And I can already see how the pro-central bankers would respond: oh, you hate poor people and you don't want to pay taxes to help people. No, motherfucker, I want to help my fellow countrymen live good and fruitful lives. What I don't want to see is my fellow countrymen laboring for months just to pay taxes that go to paying off the interest on fake money.
The federal reserve is named that because they are a national fractional reserve bank made up of a conglomerate of private banksters. Fractional reserve banking means 'I have $20 here that someone entrusted me with, but I'll lend out $1000 and just hope nobody wants their money back'.
The "national" part comes in where they are given the power to set interest rates for all inter-bank lending at once - explicitly acting as a monopoly, but with the governments blessing.
