The reality is, we do not 'need' central banks. Not in the slightest. A country, or even individual states, can create their own currency and run their own banks, either without usury, or with very low interest rates. That’s the path to freedom, and all that is required is the decision to do so, and the guts to carry it though.
The Leonine Institute for Catholic Social Teaching recently launched an exciting new project called the 'Jubilee Debt Relief Program.' It’s a no-cost initiative that seeks to help persons who are having financial difficulties.
The Federal Reserve can continue to print money indefinitely to service government debt – and to bail out people who make bad decisions – but it cannot expect other nations to continue to guarantee its value.