Re: Food, Clothing,Shelter should be controlled by government.
Okay Rush, I'll bite. I saw Henry's response as well. THE problem is criminality. Any system is open to abuse, in this case by 'banksters'.
In theory, 'government' can be monitored by the masses and turfed out at regular intervals when they don't serve the public. If the Rockefellers could be voted out I'm sure they would.
In theory having government control the money is the best solution because it is the only one that CAN work, IF we had a democracy.
I suspect that your economic liberty model could be open to criminality. One way to look at the government control model is that it is not in place anywhere. Communism uses monopoly control private banking.
What the issue comes down to in my opinion is a public medium of exchange. A private medium of exchange could be barter or maybe some form of stock exchange. You could be advocating barter in this thread which might be a stronger argument.
Lets think of a public medium. Generally gov't regulates certain standards for simplicity and safety. Common voltages in houses for example. Now if the gov't screws up, the public gets angry, and sometimes good changes are made. The electricity blackout in North America 2 years ago might be an example of a public medium, of limited supply, that went screwy because of poor management. Government only had limited blame for the problem but fixes and adjustments have been made, things are marginally better now.
The same thing could happen for the supply of money/credit* in the economy. Gov’t could create and control the money supply to a minor or greater degree. That would mean advancing loans to businesses and homeowners…sort of like a bank does. It would work, the banks would be pissed, there’d be a lot of assassinations.
* I wouldn’t call that currency. Currency is like a unit or standard, like common house voltages. We have a system of private credit creation that collapses in on itself as time goes on. Because interest is charged on money that never existed in the first place we have inflation. If we could pay banks their interest in hogs or whatever, that would help.