- A single public utility bank.
- All savings insured, fair interest rates paid,
- no fees, no spread leveraging,
- Access to credit-capital pool for insurance or loans, financial guidance, no CRAs.
PART. I. A SINGLE BANK
Section. 1. All banks merged into one which tracks all transactions and withdraws the 5% transaction tax:
Only four banks conduct 90% of America’s banking. Like a crime syndicate, 4 banks paid off politicians with campaign contributions, then divvied up the turf. Instead we’ll have one bank online only, saving us the costs of office buildings, branch buildings, parking lots, salaries, equipment, utilities, advertising, insurance, time and hassle. The 5% per transaction tax, our only tax, will cover all banking fees, ATM, Pay Pal, sales portal fees, etc.
… 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 and charge 5% for every $1,000 deposited by savers they pay only 3%, a 66:1 spread! Our single bank will not be allowed to do that, nor use our savings to trade stock, nor create mortgage crises, economic collapses and a $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 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:
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 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 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 shall accrue to passive investments:
Liability will be limited to the amount invested.
SPEAK POWER to POWER
Nonprofits, protests, parties, candidates, Presidents with 2 house majorities, none have solved our persistent problems. Instead, polarized sides concern themselves and us in the petty details of their competing investigations. Valentine puts the solutions we need into written legislation we can demand by reserving our votes for candidates who support ratification.
Women and LGBTs want equal rights and pay. Parents want schools that develop children’s gifts into profitable skills. Un(der)employed adults want similar free after school classes. Workers prefer a $20 minimum wage to welfare. Blacks want a fair policing and court system. Fiscal conservatives want accountable, deficit free government and a single 5% tax. Environmentalists, fishermen, etc want sustainable energy, farming, fishing and forestry practices. Celebrities want an end to the paparazzi; and gun owners would agree to background checks. Our current Constitution fails on these issues. This constitution includes them all, and our foundations and rights.
With inclusive legislation to team up behind, this coalition of left and right voters is powerful enough to dictate the outcome of any election. Add sports, music and movie celebrities, and nonprofits dedicated to these provisions, and this constitution will be easily ratified. Polling will force candidates to vote FOR RATIFICATION or not be (re)elected. Recommend ratification, in person, on social media, post a selfie or selfeo saying “Ratify The Valentine Constitution”, join one of our Facebook groups …