A column in the Bucks County Courier by Mike Krauss promoted Bucks County starting a bank because the county has so much money and assets that are not being used. In 2008 Krauss reports Doylestown had $201 Milllion cash on hand and and $351 Million in assets, funds and investments. That’s HALF A BILLION DOLLARS of money taken from the people that are not being used to help the people.
Krauss promotes going local because the Federal System of controlling banks has failed. Of course it failed. Government should not be in banking because the goals, strategy and tactics of government use force in relationships. Force should be limited, as was done in the Constitution, to police and military and the courts. Government ruins the free market in practically everything by regulating and taxing it as much as possible. Government should not get into more banking because, as Krauss admits, government has turned into an “Orwellian Monster”
Force breaks things and kills people. Force is not a substitute for profit making. The Federal Reserve has no competition and no reason to restrain itself. A private enterprise on the other hand cannot use force, must face competition and must generate profits or it fails. That’s why private, profit making, competitive businesses do well. If they do not provide value for money spent they fail because customers abandon them.
Think about the success of say, Wal-Mart. Why do people smile when they shop there? Then think about how government is so unsuccessful when they can simply command people to do things under penalty of punishment? Why do people complain about paying government but willingly pay Wal-Mart? Profit and Competition keep Wal-Mart in business. Force and Compulsion keep people mad about government.
Think how awful it would be to go to another government controlled bank that exists on the backs of the people. Government destroys private sector jobs. If you get a chance tell Mike Krauss where to stick his idea.