[Fingolfin]

No. If every state had sober, conservative politicians, a state owned bank could work.

Well, lets let the states experiment: the reckless will fail and the wise will succeed, then we'll all emulate the successful. That is after all the intended nature of our Republic.

As opposed to what kind of money?

Permanently circulating, government-issued fiat is one method.

What's a private central bank scam?

When bankers usurp a Constitutional government's ability to create money and instead force the government to borrow it from them. Whether the owners directly make money off the central bank is not the issue, because the issue is power. $47 billion is a small price to pay for control of a nation. Its like the Bible says: "the borrower is slave to the lender".

A similar situation is the phenomena of billionaires (Soros, etc.) we see promoting Socialism... its seems paradoxical until you realize the goal is power.

[Toddsterpatriot]

Well, lets let the states experiment: the reckless will fail and the wise will succeed,

Who pays back the depositors when the reckless state loses billions on their loan portfolio?

Permanently circulating, government-issued fiat is one method.

Our current money isn't like that? Why not?

and instead force the government to borrow it from them.

How does the Fed force the government to do that? You think the government borrows FRNs? For what?

$47 billion is a small price to pay for control of a nation.

How does returning all their income after expenses give the Fed control? Sounds like the government controls the Fed.

Its like the Bible says: "the borrower is slave to the lender".

The slave is getting $47 billion in free money from the lender. You're more confused than usual.