Correct Ellen. But respectfully, replacing one monopoly with another isn’t an integration and hence by definition not actually wise. Even if you saved a lot of costs by nationalizing the TBTF Banks, that isn’t going to solve the macroeconomic scarcity of actually available total individual incomes in ratio to TOTAL costs/prices. And when the economy is still not stabilized because there is no dividend and no retail discount, and innovation and AI also ever more rapidly and increasingly destroy aggregate demand regressive forces will hydra like resurrect the monopoly powers of Private Banking. The monopoly paradigm of Debt and Loan ONLY must also be balanced by monetary grace the free gift in consumer finance.

And a Public central bank operating truly in the interests of the individual as above is thus even more powerfully a necessary aspect of the solution.

Patrick:  But we mustn’t allow the perfect to be the enemy of the good.

Nationalizing the Fed and allowing the government to create
debt-free money could solve about 80% of the USA’s economic
problems.
That’s good enough to be going on with!  – and it’s so simple that
anyone can understand it!

Me:  The quote attributed to Voltaire actually doesn’t apply and here’s why. A monopoly, whether private or public…isn’t the Good. We’re going to sign off on politicians deciding who is credit worthy, or which infrastructure program and by what corporation it’s going to be built…not to mention whether the system is going to be at all functional as innovation and AI increasingly destroy incomes?

No, free the individual first! That’s not hard to understand, and if the individual is free…actually free they’ll be much better able to make objective and rational judgements about their political and policy options…because they won’t be able to be coerced by lack of money…and because  then they’ll actually have options!

Transformation first! Rational and ethical regulation and reform…immediately afterward!

Tyranny is tyranny and freedom is freedom. There’s no equivocating with the former and no compromising with the latter. The system is tyrannical not because it’s not perfect, but because temporally/in physical universe terms it is cost inflationary and paradigmatically, that is ideationally…it is utterly unbalanced without a new paradigm of monetary grace for the individual.

Monopolies, particularly ideational/paradigmatic financial monopolies, like Debt and Loan only, are fundamentally contradictary and have no place in free market profit making economic systems. They don’t even have a place in non-free market and nonprofit making systems because even without profit or its taxed and centralized manipulation, if the system still creates a greater flow of costs/prices than it does a flow of incomes with which to liquidate those costs and prices…it is not free and inevitably “progresses” toward absurdity and tyranny…exactly like profit making systems will without a new and balancing idea/paradigm. A third alternative made possible by integrating monetary gifting into the system and thus balancing it is the answer. Without confronting that we only tread water and, (and I know this is completely unintentional by everyone here) like politicians monetarily or ideologically dominated by Financial interests, we show a mistaken preference for comfort, compromise and relief…instead of freedom. I’m sorry, but I must speak truth to power.