Are private banks necessary?

[timmy]

why cant there be a 100% state controlled bank that charges 0 interest on loans/mortgages so long as you pay back on time?

[steveyos YOLO]

What the hell is that thing for your picture name

Why can't we just use eggs and chicken feathers for currency

i dont know whats worse the fact that cag shops at the general dollar and or the fact that she doesnt understand that its wrong

[Dirty Beatle]

why cant there be a 100% state controlled bank that charges 0 interest on loans/mortgages so long as you pay back on time?

Because that would cost the state money that it just does not have

Setting up the banks, employing and paying staff, having the money to just loan out, the most the government could afford was something like the first house buyers scheme and even that cost them a fucking heap.

It's simply not what government does. Banks are a business. The reserve bank is there to try and guide the interest rates but even that can't make banks abide by its advice.

What you are suggesting would also cripple our economy.

[steveyos YOLO]

I hope you get mers

[Dirty Beatle]

Most of my generation (gen x) are just waiting for the baby boomers to die so we can have their house. I really don't know what you gen y fuckers are going to do but it's not going to get any easier to afford a house, sorry bubble :(

[Dirty Beatle]

Move to ballarat