How much better would our economy be if we had an honest banking system?

SilentXtarian posted on Fri, Jul 3 2009 6:48 PM

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I think I'm getting closer and closer to the truth about how screwed up our economic system really is.  I think that a lot of the problem with our economic system is not just because we are off the gold standard.  I don't think that's quite right.

I would say that a lot of our problems are because we have fractional reserve banking- we don't have honest banking.  If we had an honest banking system where the banks didn't just create money out of thin air to put on the market and where the federal reserve didn't back them up any time they made a loss and stuff... and that banks were just meant for how they were supposed to be how much better would our banking system be?  I mean it's okay for banks to invest in the stock market- they would just have to do that- but not with our own money... I think that our current system is really screwed up.  I think our system would be a lot better if we had an honest banking system.  Would you agree? 

I think that if banks did what they were supposed to do- and- the people on wall-street didn't keep getting bailed out from the fed every single time they made a mistake, or, they didn't get free money all the time (economic socialism) from the federal reserve, or, if the federal reserve didn't manipulate the markets as much as they did that we would be a lot better off.  I blame fractional reserve banking for the mess we're in right now.  How do you think our economy would be if we had an honest banking system?