What will happen to the banking system?
The banks will simply lose the monopoly to create our money. We will ensure that they have adequate funds to carry out their functions for industry, and we will do nothing to alter the valuable relations they have with their customers and the services they provide.
They will be discouraged from funding purely speculative operations and will gradually be precluded from financing the public sector. This last requirement should allow more funds to be channeled into legitimate industrial development.