Do we need banks?
Discussion
As per title.
Do we really need banks?
Is there no modern system that could replace them?
The more I hear about banks the more I dislike them. They seem to have the ability to hold an entire country and its population to ransom while the bosses in control have little to worry about as long as they can exit with a nice 6-figure golden handshake at the end.
For example : If there was one central bank for each country and that every citizen had a single account on it, then there would be no reason for a multitude of banks to take risks with everyone's money as they build up a chain event of lending risks.
I know this would probably do away with interest rates, but our current system pays f-all on interest at the moment anyways.
(by the way, I was no good at economics at school - before I take the usual slating)
Do we really need banks?
Is there no modern system that could replace them?
The more I hear about banks the more I dislike them. They seem to have the ability to hold an entire country and its population to ransom while the bosses in control have little to worry about as long as they can exit with a nice 6-figure golden handshake at the end.
For example : If there was one central bank for each country and that every citizen had a single account on it, then there would be no reason for a multitude of banks to take risks with everyone's money as they build up a chain event of lending risks.
I know this would probably do away with interest rates, but our current system pays f-all on interest at the moment anyways.
(by the way, I was no good at economics at school - before I take the usual slating)
AJI said:
As per title.
Do we really need banks?
Is there no modern system that could replace them?
The more I hear about banks the more I dislike them. They seem to have the ability to hold an entire country and its population to ransom while the bosses in control have little to worry about as long as they can exit with a nice 6-figure golden handshake at the end.
For example : If there was one central bank for each country and that every citizen had a single account on it, then there would be no reason for a multitude of banks to take risks with everyone's money as they build up a chain event of lending risks.
I know this would probably do away with interest rates, but our current system pays f-all on interest at the moment anyways.
(by the way, I was no good at economics at school - before I take the usual slating)
We have one single state-run Post Office. If you add up the total time in my whole life I have spent queuing in banks, it is probably less than the time I spent last Thursday queuing in Thetford post office to send a small parcel to Germany. If anything we need more competition, not less. A nationalised single High Street bank would be a truly horrible thing, like British Leyland but more so.Do we really need banks?
Is there no modern system that could replace them?
The more I hear about banks the more I dislike them. They seem to have the ability to hold an entire country and its population to ransom while the bosses in control have little to worry about as long as they can exit with a nice 6-figure golden handshake at the end.
For example : If there was one central bank for each country and that every citizen had a single account on it, then there would be no reason for a multitude of banks to take risks with everyone's money as they build up a chain event of lending risks.
I know this would probably do away with interest rates, but our current system pays f-all on interest at the moment anyways.
(by the way, I was no good at economics at school - before I take the usual slating)
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