I like Whowee's question: How to fix the problem without crippling the world? Hmmm.. I am not saying it's an easy question. It would be my guess though if our money problems aren't fixed then there may be one more 'boom' ahead of us followed by possibly the bust to end all busts. We have had to throw a lot of money on the lastest problem which should lead to devasting inflation eventually. Anyways maybe I should make a thread asking to create a hypothetical monetary utopia. That would probably be better than beating around the bush as I have. I was curious to see what most people think about our current system. I think it's probably beyond repair in my opinion. So I believe it will be necessary to start networks of trade in communities and online as well and in doing so create a new currency. Maybe precious metals of some sort. If an entire self sufficient town started to use another form of currency maybe silver and then another and another the dollar would fade out. And then one day maybe we could create a new dollar backed by someting real as it used to be. Now I realize that it is kind of out there and there could be a lot of problems with that but just throwing that out there, got any ideas?
I appreciate the truthfulness of your answer. Trying to nudge our "system" in one direction or another often creates uninteded consequences. As you noted, ou banking system has developed over a very long period of time and has evolved into it's present form - good or bad - it is tested and familiar.