Only 4 banks conduct 80% of our banking business in America today. Our single public utility bank will instead give to our Citizens those monopolistic advantages as well as use of the full faith and credit of the United States now reserved for insiders. We will no longer have to put up with Wall Street banks gambling with our savings and our mortgages, or the resulting economic collapse, bail outs, job loss and $40 trillion debt.
The Valentine Constitution abolishes cash, coins, ATMs and physical banks allowing the Citizen to keep all those fees and save all those costs now passed on to the customers for obsolete physical bank branches: land, parking, buildings, utilities, supplies, equipment and payroll. The single national bank would exist online only and each Citizen would have only one card (at least until another method of verification is adopted). The elimination of cash will render criminals, racketeers and illegal aliens inoperative. PayPal and portal type fees now paid for online transactions will not exist. The internet will be one big buy/sell portal for all Citizens with no fees other than the 5% transaction tax.