"If banks can borrow money from the federal reserve at 3%, why cant we? Why do we have to go through a money changer to get access to capital? In all honesty for profit banking should be outlawed like for profit hospitals were before Nixon. Usury is the problem in our society. Not capitalism."

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[–]worm 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

I think that public banking is a good thing and it is possibly one of the reasons why the Spanish Empire collapsed while its competing European neighbours expanded all across the world.

Niall Ferguson's "The Ascent of Money" comes to mind.