Nowadays, Gadaffi is missed by the Libyans. Electricity was free. The residence was a human right. All the married couples were given the equivalent to 50.000 (fifty thousand) to buy a house. All loans were 0% interest by law. When Gadaffi came to power, only 5% of the population knew to read and write. When he was assassinated, 83% did know how to read and write. Healthcare was free. If you couldn't be treated in the country, the government would give you all the required amount of money to get treated in a foreign country. If Libyans bought a car, the government would pay 50%. The Libyan central bank was owned by Libya, and not by the Rothschild, a dynasty who own half the world. (http://www.theeventchronicle.com/finanace/rothschild-family-wealth-five-times-worlds-top-8-billionaires-combined/) They create money without gold. Gadaffi didn't sell his people to the Rothschild. Sarkozy said that this (the economy of Libya) was "a threat to the global economy".

Gadaffi used to say "We all can live freely on the Earth, without debts and its huge interests.The banks and its bought politicians are stealing trillions of dollars, every year."

Unfortunately, Gadaffi was assassinated by the "police of the world". The United States. Today, Libya is a slaved nation. Slaved by the debts of its people. Because of the banks. Because of the USA. Banks. Banks are the source of almost all problems. Banks. Modern slavery. Debts. Students that are working dozens of hours and get less than the minimum wage, and they almost can't pay for the university. People that see their house being awned by the bank just because yoy missed a payment. Old people who are left to die because they are not "valuable" to the banks.

I propose to BAN the banks on Asgardia. I (I am sure WE) don't want banks. Ban modern slavery. We can have a central "bank" in the government. All loans would be issued at 0% interest. Do you need some money for a scientific research? Ask the government for a loan. Do you need to buy a house? Ask the government for a loan. Do you need some money to buy that fantastic 3D printer? Ask the government for a loan. Do you need to de treated in a hospital? Don't worry, the healthcare is free.

I (again, I am sure We) don't mind paying more taxes as long as we don't have banks in our Nation.

Please tell me what do you think or if you want to propose an alternative. Please read before you vote. Thanks for reading.

As long as the Rothschilds are kept out of the Asgardian banking system all will be fine. There would not be any need to ban banks, besides the idea is too extreme and reckless at that! Where would Asgardians keep their funds? Certainly not at home as that would give unscrupulous folks incentive to commit robbery. Banks themselves are not bad as long as they are owned by the government and not private entities!

We will have a cryptocurrency. Your money can't be stolen! See how cryptocurrencies work at bitcoin.com or at reddit.com/r/btc With cryptocoins, everyone is its own bank.

It is not a extreme idea, as it may seem. Decentralisation is very important in a developed society and needed for its development.

Says who? You are talking about a currency that will only exist in a virtual form, making it data and data can be stolen! Besides we will likely have a physical currency because crypto-currencies are not yet accepted in a wide enough range of industries to replace the need for a physical currency

I mean't that we will PROBABLY have a cryptocurrency.

Can't they steal you password for the cryptocoin wallet, that is stored in your brain? I am sure robbers won't steal you brain. Only a fool would store its money in an usecured wallet.

Btw, you say that cryptocurrencies are not ready yet. See bitcoin. And, let's be realistic, by the time Asgardia becomes a reality, cryptocurrencies will be heavily distrubuted around the world.

Listen Charles, if it exists virtually or physically it can be stolen, there are plenty of ways to get your password coercision, trickery, you could be drugged, and so on. As for your other point, not every business accepts crypto currencies and that is not likely to change anytime soon. Some folks do not trust the virtual nature of crypto currencies. Some folks will only accept cold hard cash because they can see it and hold it in their hands. In the end it does not matter one bit how widespread a crypto currency is. What matters is how widely accepted it as and cold hard cash trumps a virtual currency everytime!

Hello,

To tell a big lie you need to use small truths!

So, we humans forget about those truths inside the big lie when we meet one. That happens with religion.. Because you find big lies in some religious books that doesn’t mean that you must reject the small truths.

So, modern banking is corrupted, but that doesn’t mean we don’t need a bank. We really need one or we can fell in the mistake of letting external forces control our energy. Money is energy, and banks regulate that energy as resistors and capacitors just like electricity.

We need a bank that protects our own interest and not a private business making money from our money. Exactly why Gadaffi was killed, because he had central bank working for the country and the people.

I don’t agree with the Zero loan policy, but what I think is all that profit made from interest must revert to Government or supporting the bank operative costs. Interest from 1 to 3% is acceptable when you compare with the western banking system. Also, the bank can’t have only the 10% in reserves. Must be much more solid than the fractional reserve system we are used to.

Physicians should be the ones designing the bank. The day that humans understand that money obeys to electricity laws, the ones in charge must master electricity at top level and not by criminals with white collar.

Doesn’t matter if we have rocks, paper or criptocurrencies.. All that just represent vessels to store our energy… All small bottles with our tapped energy inside. Regards,

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The thought of no banks does sound nice but like others have stated a banking system would definitely be need if Asgradia became a physical nation in space. And like others have said the problem isn't the banks its private entities owning the banks is what courses alot of the problems

I totally agree that a government should own its federal Reserve and print its own money, i cant understand how a private entity like the federal Reserve own by the Rothschild can print money but also expected the money back plus more with interest? I dont understand how this has happen and why its not our goverments who are the ones printing the money and owning that money.

So i totally agree that Asgradias banking system should be goverment controlled, also i like the idea of still having small interest on loans but this money going back to the goverment for funding and to manage the banks, this is a great idea and dont understand why it isn't already happening here today on earth?

How will we conduct international trade if there are no banks? Cryptocurrency is nice in a lot of ways, but it's not viable for international trade unless the earth has already fully adopted it, which is unlikely.

People also need ways to safely store money. Cryptocurrency is vulnerable to theft, as with everything. A bank being responsible for protecting the funds protects individuals by placing liability on the bank. Banks can also provide interest on savings, which is objectively better than personal storage, unless we somehow manage a zero inflation economy.

Most of the problems with banks aren't problems with banks themselves, but financing and lending laws, which are largely unsound across the world right now. Given the precariousness of living in space, it will probably be pretty easy to secure popular support of finance laws that emphasize prudence in and stability of the Asgardian economy over risky potential gains for the banks themselves.

Thanks for all of your replies.

How will we conduct international trade if there are no banks?

You don't. You just give it to them. When tapping the infinite resources of the universe, what could they possibly have that we'd want and or need? What use to us is an ever growing pile of their currency pushing them into poverty?

Most of the problems with banks aren't problems with banks themselves, but financing and lending laws

These laws forced the banks to make unwise decisions with money they didn't have?

I am agree with an Asgardian Cryptocurrency in order to avoid banks in our new nation

The problem with any currency, and a banking system, is interest and fractional reserve banking, respectively. Current monetary policy is based on interest (debt) and as such no amount of currency will every be printed, or created in ones and zeroes, to pay down that interest. It would require an amount of currency above what is in circulation at any given time. Fractional reserve banking has been the greatest theft of wealth from the masses to those running the system, and therefore with a vested interest in keeping the status quo. All of that money floating around with no real tangible backing, literally created out of thin air, with interest that can never be paid back; keeping us in a cycle of wage slavery to try.

When building something that doesn't yet exist, we should come together to draft new ways of thinking and going about what we want to accomplish; not frame the new system in the style of the old we are looking to advance from.

Crypto Currency is the way to go. But speaking of this matter, does anyone know the ones working on the currency for Asgardia? I just drafted the final design for the logo for the currency of Asgardia. I also believe that eventually we should be resource based.