3 ms·

Now that banks have grown to the size of requiring Central Banks, is that such a good thing? I have read much suggesting that it easily lends itself to Ponzi s

Now that banks have grown to the size of requiring Central Banks, is that such a good thing? I have read much suggesting that it easily lends itself to Ponzi schemes, and so far, we have continued to choose/been forced to pay up (bail-outs/too big to fail/too big to jail, etc.). Financial booms/crisis seem to be cyclical, if one looks over a large enough period of time. It also seems that cycles before Central Banks didn't have such huge swings/blow-back. We tended to recover from the damage quicker and it was more localized.

krapp 13y ago
It still seems like a bit much if I can't spend my local Bank of America branch dollars outside the town I'm in. Regulation is one thing but that's practically medieval.
- raintrees 13y ago
  Well, it does look like I am taking the Luddite side of this... I am stuck with a basic conundrum: There are problems for humans that are larger than any one national government, and it makes logical sense for a world government to exist to address problems of that scale. But when I stop and think about the types of people that are _attracted_ to positions of power, I shudder and decide I like my congressional deadlock, thank you very much. And that does not even begin to get to the part where once a problem solving-body exists, all problems begin to look like nails to the hammer... That brings me back around to potential answers that look much smaller than the current (working?) models. Humans have conducted commerce well enough before there were national/international banks, since finance is mostly a matter of trust and faith, at the core. I do not doubt that there would continue to be commerce conducted over vast distances, even if our current financial institutions were greatly shrunk back down to something closer to local banks again. But I agree that my suggestions sure sound like "boy I miss the good old days..."

krapp 13y ago

It still seems like a bit much if I can't spend my local Bank of America branch dollars outside the town I'm in. Regulation is one thing but that's practically medieval.

raintrees 13y ago
Well, it does look like I am taking the Luddite side of this... I am stuck with a basic conundrum: There are problems for humans that are larger than any one national government, and it makes logical sense for a world government to exist to address problems of that scale. But when I stop and think about the types of people that are _attracted_ to positions of power, I shudder and decide I like my congressional deadlock, thank you very much. And that does not even begin to get to the part where once a problem solving-body exists, all problems begin to look like nails to the hammer... That brings me back around to potential answers that look much smaller than the current (working?) models. Humans have conducted commerce well enough before there were national/international banks, since finance is mostly a matter of trust and faith, at the core. I do not doubt that there would continue to be commerce conducted over vast distances, even if our current financial institutions were greatly shrunk back down to something closer to local banks again. But I agree that my suggestions sure sound like "boy I miss the good old days..."