There are many reason why we should stop bailing out the banks and leave them to their dismal future. I will first say that banks create nothing, clear and simple, no products, not even a decent service. What kind of service is taking money from one person and handing it to another. That would never work in any barter system! When you were young you couldn’t offer to your neighbor to hold his money and lend it out to other people. Why should he want to do something as absurd as that?

Now you might say you can gain interest. Well not really. If you are making even 2.15% interest in savings at some of the better banks you still aren’t making a profit. Because even the government’s “reported” cost of living rate is at 3% increase a year currently. That is if you believe that number is accurate, because they leave out inflation and other daily products that go up, so the real rate is likely 6% a year or so. So if anything you are slightly under the cost of living each year with your saving account. And that rate given is 8 times the national average.

Now let’s look at loans. Do we really need loans? Loans are borrowing for something you can’t afford. Seems pretty illogical doesn’t it. “Well I want a house.” a person might say. I want a Dodge Viper, but does that mean I should take out a 80 grand loan for one? No. People have been borrowing way more than they can ever pay back and that is what got us in this mess in the first place. Buying 300 grand homes when they can really only afford a 150 grand mortgage. People buying cars that are way out of their range, just because that is the maximum loan the bank will lend them. These are some of the main problems that got us in this situation. It doesn’t mean the bankers weren’t wrong for issuing high risk loans, they are at fault as well.

So what would happen if all the banks went under? Okay, let’s say there are no more banks. For one thing all those workers and CEOs would have to get jobs where they actually make/provide a real service or product to the public. That is a positive. People would not owe anything on their mortgages or car loans. Who is going to collect, if there are no banks? Basically all debts are forgiven. Sure some people might be envious that they did not get million dollar homes or that they paid off their houses. However, if you want to cite a moral standpoint on the issue, this forgiveness is precisely what Christianity and Judaism demand. These are the religions of most in the banking industry, and they demand that after 7 years, debt must be forgiven, the reasoning being perpetual debt creates debt slavery. A slave is someone who has no hope of ownership, and indeed if you are too far in over your head with debt and no way out, you are indeed a slave to debt. There is no justification for any christian or jew, which make-up a vast majority in our country, to endorse usury as it is in violation of their religious beliefs. Humanity could recognize the immorality of usury thousands of years ago, and haven’t we come farther than that?

Without debt, we would have a nationwide paradise. No one would have debt, and if they want something they can purchase it with money that they actually have, not plastic or someone else’s money(loan). Even if lots of people have to rent apartments, that’s much better than being in a great depression, wouldn’t you say? The bank created cycles of expansion and retraction of credit are precisely what leads to recessions and depressions. Without them, and using gold and silver as the only currency as the constitution requires, the economy would be stabilized and only head upward through the creation of goods and services to increase the livelihood of the citizenry.

I’m just sick of all the fear and despair out there. With the media and people not being able to come up with a solution. The government can’t make a free market better, they can only nationalize banks and force labor. Those two things don’t create prospertiy or freedom, things that this country was founded on. We are a nation of problem solvers and innovative thinkers. Let’s stop dumping our problems on the government and find our own way out of this slump.