> Then there would be no need for the government to do costly guarantees for depositors in private banks Why not? As long as banks operate on a fractional rese

> Then there would be no need for the government to do costly guarantees for depositors in private banks Why not? As long as banks operate on a fractional reserve basis (i.e. your bank can lend out your money, but you still "have it" in your account), guarantees are still needed, regardless of how money is recorded. > Taxes could be collected much fairer and efficient. Taxes being collected and taxes being fair are two very distinct, and mostly unrelated, concepts. > Negative interests rates could be implemented without distortions. Great, I really want someone to keep stealing my money.