Cite?
Loans, for one thing, and that’s a pretty big thing. Industrial capitalism would be impossible without fractional-reserve banking. And imagine living in a society where you can never buy a house or a car until you’ve saved up the full price.
We don’t; we have an American central bank for that.
Who’s the “we” here? If it’s the national “we,” then “supply it ourselves” is exactly what we do. Makes no difference whether the money comes from a government mint or the quasi-private Federal Reserve; private contractors do a lot of the government’s work anyway, always have.
Now, there’s nothing to stop you from agreeing with friends to use your own private scrip-currency among yourselves.
:rolleyes: What, you think bankers don’t work for their salaries?! They do. For the rest, re-read post #153 above.
:dubious: Really gonna need a cite for that.
No, the answer is that we need somebody around doing what bankers do.
You will find Andrew Jackson ain’t too popular around here; many GDers consider him not just an idiot but a monster, mainly for the way he dealt with Indians, which was harshly even for his time. The Trail of Tears was Jackson’s doing, for one thing.