Banks under Socialism?

[safeduck]

How would the banks work in socialism? would there be a maximum amount of money you can have in the bank? I also take it that the banks would be state owned?

[The Dark Side of the Moon]

What in particular would you need a bank for?

[IndependentCitizen]

My take on the maximum savings is that there should be none. If we hadn't secured commuinism, and currency was still in use. If someone sold their labour, after paying taxes and etc, and they wanted to save. Should we stop them? They've produced the good, not exploited anyone and the money is their's to do with what they will. Should we limit those who do good, and wish to save?

Personally, I'd have credit unions than a bank, but I've not really considered banks under socialism. Should be interesting.

[ckaihatsu]

My take on the maximum savings is that there should be none. If we hadn't secured commuinism, and currency was still in use. If someone sold their labour, after paying taxes and etc, and they wanted to save. Should we stop them? They've produced the good, not exploited anyone and the money is their's to do with what they will. Should we limit those who do good, and wish to save?

Personally, I'd have credit unions than a bank, but I've not really considered banks under socialism. Should be interesting.


At some point, though, depending on conditions, there would have to be a cut-off -- probably accompanying a full-blown transition away from capitalist valuations altogether -- since the *political* implication of one's saving and/or investing is the expression of confidence in the continuation of the money (wage-labor) system.

[NoOneIsIllegal]

Banks won't have a point when there's a stateless, classless, wageless world.

I don't know what type of question you're asking. If you're an M-L looking for how the state would run banks, I would assume they would lower interest rates, take out hidden fees, be non-profit, locally run, democratically elected officials... Wait a second, that's a credit union :laugh:

[Die Neue Zeit]

Lower interest rates, take out hidden fees, and be non-profit? Very likely. Democratically elected? Perhaps. Locally run? Highly unlikely. Some variation of Gosbank SSSR is the model.