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We tried that. Our country has had great difficulty with central banking in the past, and today. Entire books have been written on this topic, if you wish to learn more, I'd start with the history of the First and Second bank of the United States.

https://en.wikipedia.org/wiki/First_Bank_of_the_United_State... https://en.wikipedia.org/wiki/Second_Bank_of_the_United_Stat...

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The East Asian economic miracle is all about the state in control of the banks (printing).

Read Quest for Prosperity -- the private/public construct of distinction is a complete myth that is exposed by the titans in Asia and Latin America. The more we stick to the myth in the US, the longer it will take for us to have the same degree of success. Innovation comes not out of motive for profit, but ou of need and desire and capability.

I agree that a sovereign nation shouldn't be borrowing from anybody in order to trade with other nations, but isn't the Asian economic miracle also driven by slave labor?

> The East Asian economic miracle is all about the state in control of the banks (printing).

So was the Asian Financial Crisis. And to a lesser extent Japan's "lost decades".

There are no simple answers in economics. Everything comes with ugly drawbacks.

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