Banks are completely unnecessary and a huge tax on the people. The answer is State Banking. Keep the fractional reserve system, but socialize the profits. Profits from State Banks go back to the State Treasury. Therefore, taxes can be reduced. Or, send a check to each State resident, every quarter. Or, nationalize the private banks, and send a check to each citizen each quarter. At the end of the day, the system works exactly the same, except people have more money in their pockets. Which is exactly what private banking is - a major tax on the people. Most of the Baby Boomers protest but that's only because their shareholders of these shitty institutions and would lose their investment. Who cares. What public banking has done is basically allowed the top 10% of income earners to participate in the fractional reserve scam, instead of just a handful of Jewish or extremely rich families. Much akin to the transition from a pure Monarchy, to a hybrid Monarchy-Nobility system. It's still serfdom.
https://bnd.nd.gov/ Its called the Bank of North Dakota. Half of its profits are remitted back to the State Treasury to reduce the burden of taxation on Dakota citizens. Further, I don't think they even have the ability to create money. They actually loan out deposits lol