My 2 cents:This sounds convoluted and impractical.
Ken Rudich
21

How so?

If you accept the notion that money is backed with the full faith and credit of a nation, and that money can be loaned into existence…

Which is the current state

It is simple and straightforward to demand that each should get a share of the interest paid on this money that is called into existence based on full faith and credit that they collectively provide…

…and equally reasonable to distribute the investment of this fiat credit to local banks where each will have the most control over the investment of their Share, and local needs may take precedence

The practicality of allowing each to claim a Share at a bank of their choosing, without cost, is clear even if getting everyone a bank account was the only thing accomplished…

…but this also provides sustainable surplus financing for sovereign capital improvements, and a basic income…

…without changing anything else

If you disregard the thought experiment that follows, and just note the proposed rule, that requires sovereign debt to be backed with Shares of fiat credit that may be claimed by each adult human on the planet, for deposit in trust with their bank, as part of an actual social contract…

People deposit their Shares

Banks loan the money created by the Shares to sovereign entities

The interest payments are aggregated and equally distributed to each Share holder

All of this happens now… nearly all of the infrastructure exists… the change simply restricts the total amount of fiat available, and distributes the fiat to each

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