Single Bank




Section.  1.   all banks merged into one which tracks all transactions and withdraws the 5% transaction tax …

Four banks already conduct 90% of America’s banking business. They’re not competing, just passing their profits and CEO salaries on to customers, so why not have just one? The single national bank would exist online only, further saving us all the costs of physical banks: real estate, utilities, equipment, salaries, ATM and Pay Pal type fees. The 5% per transaction tax would be our only tax.

… savings will be insured and receive a fair interest …

Banks make most of their money from TWO “SPREADS”: (1) interest on money going from one customer to another waiting to be made “available”, (2) the spread between the interest banks pay you for savings and what they charge others to borrow your savings PLUS interest on the $33,000 they get to loan out for every $1,000 they hold in savings, a 33:1 spread! Neither will be allowed, nor will the loan scams or banks selling insurance which caused the 2007 Collapse and our $30 trillion debt. 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.

… 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 shall 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 …

Free of charge a Citizen can immediately get their credit score or apply for a loan. Bad credit risks will not be able to borrow, and will be advised on how to get their financial act together. The pool of resources which loans (and insurances) come from, and all savings, will be protected against risk. The Single Bank, Federal Reserve System and bond markets will benefit saving and investing Citizens, and long term investors in small and large businesses, instead of hi-speed traders and monopolies. Tax compliance will no longer disrupt business performance. Insurance companies will better investigate who is at fault, keep repair costs and scams low, and advise industry wide standards – like drains in kitchens and bathrooms to avoid the trillions, the stress, and the time spent on condo leaks.

limited liability shall accrue to passive investments. Read More

Liability will be limited to the amount invested.