I've been thinking America needs to reform our system of public finance. The current system uses debt-money to finance public goods through the bond markets and investment banks. Thus public goods are perpetually encumbered by debt rather than created debt-free. Obviously it is possible to create private or public assets without creating debt-money. The practice of barn raising is one example, where a private asset is created through mutual credit of the local community, with no money or interest bearing debt having to issue. Thus an asset is created and there is no inflation, and no wealth transfer out of the community. What if State or Federal governments would issue money for public asset projects, such as smart grid improvements, infrastructure maintenance, etc., and then after the asset is in place simply tax some of the money back, or let it circulate if there is no inflation threat? I think such a system would be less harmful to taxpayers than the current system in which all money is created as debt via the fractional reserve central banking scheme. In the current scheme, the banks are sources of money in the form of debt, but for every source of money, to regulate the supply of money, there must be a sink (destruction event). I don't think taxpayers should be on the hook to bankers for the privilige of printing money since in theory the People own the Treasury power in our system of government, not the King nor the Bankers. I'd like to hear ideas, criticisms, etc.