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Banks
Well, pretty much the way it is now, except where criminal capitalists control the government. Money is a convenient means of exchange. Money must be controlled by a central authority, since it must maintain a constant value recognized by all who use it. Thus, the amount of money in circulation must be not too much as inflationary and not too little as deflationary. Since the value of money affects all, it should be a Government responsibility operated through federal government and state banks.
Private banks should never control the printing of money. Without the ability of the government to print its own money, it is essentially owned by private banks. If push comes to shove, the banks can simply lock up the money that they hold and refuse to print anymore. And of course the government should fund the elections of each candidate equitably, otherwise the most money buys the candidates, as is amply evident in these here United States. The current USA president is a Billionaire, and most of the national politicians are millionaires, supported by political donations from billion and millionaires. And as also amply demonstrated private corporate media is private capitalist propaganda, from dawn to dusk as advertising, political news and talk.
Socialism further means the All pooled resources from the many, that the individual could not obtain individually. Banks pool money as secure holding for and lending to private business or the individual. Insurance is the pooling of money from the All, to insure the One against misfortune. Private banks are owned by private interests and their financial policies will tend to be directed to their own profit capacities rather than the good of the community as a whole. Banking and insurance might better be left to the non-profit Government.
Socialism (12 of 23)
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