PART. I. A SINGLE BANK
Section. 1. All banks merged into one which tracks all transactions and withdraws the 5% transaction tax:
Like a crime syndicate, banks paid off politicians with campaign contributions to merge and acquire until now only 4 banks conduct 90% of America’s banking! The Valentine Constitution instead has one bank only, operating as a public utility, and online only to save us the costs of office and branch buildings, parking lots, salaries, equipment, utilities, advertising, insurance, time and hassle. The 5% transaction tax, our only tax, will cover all banking, sales portal, Pay Pal, ATM, fees of any kind.
… savings insured; a fair interest rate paid:
Banks make most of their money from 2 SPREADS: (1) Banks get to keep the interest on money waiting to be made “available” as it goes from one customer to another. 2) Banks get to loan out $33,000 @5% for every $1,000 deposited by savers @ only 3%, a 66:1 spread! Our public utility bank will not do that, nor use our savings to trade stock, nor create mortgage crises, economic collapses and $40 trillion national debts. A fair rate of interest encourages saving, the backbone of every solid society.
… currency, coin and checks will be abolished:
Each Citizen will have one “card”. Criminals and illegal aliens will be unable to operate underground.
… each citizen will have one account for all of their financial, medical, licensing and legal affairs:
Click to analyze, learn, get options and advice for finance, legal, medical, licensing – all records in one place.
… credit reporting agencies will be abolished:
CRAs will be abolished and your private information accessible only to you or those you choose, or by warrant.
… loans, credit and insurances will fairly and equally calculate risk, collateral, ability to repay, history of claims and payments; and reward responsible Citizens:
The Single Bank will reward savers, long term investors and low risk borrowers. All savings will be FDIC insured and automatically receive the best interest rate. America’s pool of credit and capital will be made available as insurance and loans to citizens and businesses. A Citizen can apply for a loan or get their credit score any time in their account free of charge and without “inquiries”. Bad credit risks will not be able to borrow, and instead be advised on how to get their financial act together. Insurance companies will better investigate insurance fault, keep scams and repair costs low, and recommend industry wide standards for avoiding accidents, like drains in kitchens and bathrooms to avoid the money, stress and time spent on leaks. High-speed traders and monopolies will be prohibited; and tax compliance, unnecessary.
… limited liability will accrue to passive investments:
Liability will be limited to the amount invested, unless active in the business.
SPEAK POWER to POWER
Keeping 90% of our current Constitution, foundations and rights intact, The Valentine Constitution modernizes our unaccountable government to assist rather than restrict citizens.
Women, LGBTs, blacks, anti-tax and anti-deficit groups, environmentalists, 80% of America will get what they want most.
Candidates, nonprofits, foundations, protests and fundraisers have failed for decades to fulfill their missions. If they were going to solve our problems, they would have by now. How much longer will you hope that government or Wall Street or scientists solve your problems when they haven’t yet?
Even if your wish list of candidates were elected, what legislation would they pass? They’re too polarized and stalemated, between and within parties, to pass all the legislation needed to solve our many problems, and how long would it take them? It took Valentine 12,000 hours over 45 years! Unless we dictate play, our problems will never be solved.
Left, right and center voters, nonprofits, causes and celebrities can combine their considerable power to get the word out to dictate to candidates to vote FOR RATIFICATION or not be (re)elected.
The hard work’s been done. All you have to do is say you want it to trigger positive polling and they’ll ratify it to get your vote, then we can finally fix everything.