OTOH, Once they gave the money to the banks it's not really "their own" any more. That's part of the problem. people's perception is that having money in a bank

OTOH, Once they gave the money to the banks it's not really "their own" any more. That's part of the problem. people's perception is that having money in a bank account is like having cash in a safety deposit box, which is really not the case, at all. A bank account is just a debt, and just like any debt, the bank can default on it. Interestingly enough there was a report, addressing exactly this problem, for the Icelandic government, by means of "souverign money". An arrangemang much more like the saftey deposit box scenario. https://www.forsaetisraduneyti.is/media/Skyrslur/monetary-reform.pdf https://www.forsaetisraduneyti.is/media/Skyrslur/monetary-re...