The banks should be repealed

[sdmathis]

Politicians have no  idea of doing business. Let the banks who have better knowledge of business and finance matters print the money, look what is happening to Argentina and Zimbabwe this could happen to countries who let the ministry of finance print the money.

Banks ARE the ones who create money. In most countries, money is not created simply by printing more bills or stamping out more coins. If physical bills and coins were all that our money supply consisted of, it would strangle the economy. The government does influence the money supply through fiscal and monetary policy, but the actual creation of money is done by the banking system.

[mrhelpful]

The system replaced? Then what happens to all the elder people or people who been enslaving to work for their money held in the banks?

Do they just say oh well? There needs to be a measurement, for the banks  within their own from a third party to say you are crossing the line step back until you pay the balance like how they issue our credit to us as well.

[NUFCrichard]

The system replaced? Then what happens to all the elder people or people who been enslaving to work for their money held in the banks?

Do they just say oh well? There needs to be a measurement, for the banks  within their own from a third party to say you are crossing the line step back until you pay the balance like how they issue our credit to us as well.

Those people are just going to be inflated out of their money or have their savings stolen at some point in the future anyway!

I expect the transition to a new system will be fast, but old fiat will have to be transferred into the new system somehow.  I don't really know how it worded in the past after hyper-inflations happened, but it would probably be the same again this time.

[Erdogan]

The system replaced? Then what happens to all the elder people or people who been enslaving to work for their money held in the banks?

Do they just say oh well? There needs to be a measurement, for the banks  within their own from a third party to say you are crossing the line step back until you pay the balance like how they issue our credit to us as well.

Those people are just going to be inflated out of their money or have their savings stolen at some point in the future anyway!

I expect the transition to a new system will be fast, but old fiat will have to be transferred into the new system somehow.  I don't really know how it worded in the past after hyper-inflations happened, but it would probably be the same again this time.

Hyperbitcoinization?

[mladen00]

The money must be printed by the Ministry of Finance. Do you agree?

Yes, everything is better than USA - FED way

[gongomanny]

I agree that banks should be removed from our economy, but if the power to print money is given to politicians, we're going to have the same problem. Instead, we should use a currency which cannot just be increased in supply at whim, like gold, or, in a modern world, something similar to bitcoin.

[Kaneki]

The money must be printed by the Ministry of Finance. Do you agree?

totally disagree, policy pursued by the Ministry of Finance will not be much better than the decision will be undertaken by Banks are all aiming for its own sake and the customer is always the victim,in my opinion to decentralized financial systems such as Bitcoin be a better solution of the options above.

[BTCevo]

I agree that banks should be removed from our economy, but if the power to print money is given to politicians, we're going to have the same problem. Instead, we should use a currency which cannot just be increased in supply at whim, like gold, or, in a modern world, something similar to bitcoin.

First things banks should not removed from economy because there is somehow another investment in it. Some people with the real fiat money will invest in it because its easier altough the interest is low. Some people dont want to think about it and just want to get some money for it thats why they invest in banks. Second is if you give politician the power I think we will be doomed since they can easily print money for themselves so they have a higher chance to corrupt every single money in this world. And that is not a good choice

[maku]

I agree that banks should be removed from our economy, but if the power to print money is given to politicians, we're going to have the same problem. Instead, we should use a currency which cannot just be increased in supply at whim, like gold, or, in a modern world, something similar to bitcoin.

Printing additional money isn't the only problem. Devaluation, deliberate lowering the exchange rate, fixed exchange rate, etc. Banks and politics all over the world are abusing their positions to all kind of manipulating. Even if you use gold for exchanging someone may wont to lower its value just to gain litter extra.

[mrhelpful]

You cant takeaway the entire system, you have to change their policy or their operations of someone to oversee them.

It also needs to be a private company with a governmental approved, since most government staffing lacks in these areas. The better the oversight the better reduction of more less fiance mess, the credit agency was doing this role until they started getting paid to give AAA ratings on all investments.  

The oversight needs to be in 2 places, or just 1 on the credit agency either way works.

[kenbytes]

I dont know why everyone was freaking out. We dont need the banks anyway. Thats what bitcoin is all about!

[maku]

I dont know why everyone was freaking out. We dont need the banks anyway. Thats what bitcoin is all about!

I'm sorry to disappoint You but so far I don't see banks being replaced/liquidated in the future. Even if bitcoin becomes dominating global currency banks will still exist, they have too strong position in the global market, they lend money, they keep most of the savings, and they will also adapt to bitcoin.

[Amph]

I dont know why everyone was freaking out. We dont need the banks anyway. Thats what bitcoin is all about!

I'm sorry to disappoint You but so far I don't see banks being replaced/liquidated in the future. Even if bitcoin becomes dominating global currency banks will still exist, they have too strong position in the global market, they lend money, they keep most of the savings, and they will also adapt to bitcoin.

the banks will be repealed naturally, when everyone will start using only bitcoin, bitcoin need to acquire a big portion of the whole "monetary users" before that occurs

their strong position is only strong thanks to us, because we continue to use their shitty fiat

[maku]

I dont know why everyone was freaking out. We dont need the banks anyway. Thats what bitcoin is all about!

I'm sorry to disappoint You but so far I don't see banks being replaced/liquidated in the future. Even if bitcoin becomes dominating global currency banks will still exist, they have too strong position in the global market, they lend money, they keep most of the savings, and they will also adapt to bitcoin.

the banks will be repealed naturally, when everyone will start using only bitcoin, bitcoin need to acquire a big portion of the whole "monetary users" before that occurs

their strong position is only strong thanks to us, because we continue to use their shitty fiat

And they still will be strong because some people will want to lend money, because bitcoin can be collected and used for investment. Bitcoin alone wont end banks domination. Also banks as an institution is not a bad thing as long as there is someone to keep them under control.

[V for Varoufakis]

Banks are a useless invention. There is no reason to exist anymore. Politicians can do better job and the most important: Politicians are elected.

[differential350]

the world we live in has been created by them

[aso118]

Banks are a useless invention. There is no reason to exist anymore. Politicians can do better job and the most important: Politicians are elected.

The fundamental job of a bank is to give credit. Politicians can't do that.
Why would you think banks don't have a reason to exist anymore?

[V for Varoufakis]

Banks are a useless invention. There is no reason to exist anymore. Politicians can do better job and the most important: Politicians are elected.

The fundamental job of a bank is to give credit. Politicians can't do that.
Why would you think banks don't have a reason to exist anymore?

Why i need a bank to give credit? Are you joking?

[maku]

Banks are a useless invention. There is no reason to exist anymore. Politicians can do better job and the most important: Politicians are elected.

The fundamental job of a bank is to give credit. Politicians can't do that.
Why would you think banks don't have a reason to exist anymore?

Why i need a bank to give credit? Are you joking?

I don't know about Your situation but there are many people that need or want to get credit (for investment, for buying a house or for emergency situations). Also there are many companies that need to use credit in order to do needed investment, some people get credit to start there own company. How else are you going to get needed money if you don't have banks?

[Amph]

Banks are a useless invention. There is no reason to exist anymore. Politicians can do better job and the most important: Politicians are elected.

The fundamental job of a bank is to give credit. Politicians can't do that.
Why would you think banks don't have a reason to exist anymore?

Why i need a bank to give credit? Are you joking?

I don't know about Your situation but there are many people that need or want to get credit (for investment, for buying a house or for emergency situations). Also there are many companies that need to use credit in order to do needed investment, some people get credit to start there own company. How else are you going to get needed money if you don't have banks?

they could start to deploy automatic atm everywhere instead of those big construction called banks, where there are insiders doing useless job, that could be replaced easily by a machine

we don't need banks or any other human holding our money yet