Why Banking Leverage Requirements Are Not Enough
Mike Konczal
83

Seems reasonable enough

If you will though, consider a rule that standardizes and distributes the fiat credit backing our currencies, to each adult human on the planet, by allowing each to claim a Share…

…and perhaps why the notion is dismissed without comment by yourself and others, or mischaracterized to have a straw man to argue with

Such enfranchisement would tend to make the leverage requirements moot, as central banks would borrow fiat money into existence to transfer to commercial banks instead of fiat credit

This makes central banks responsible for the debt, which ultimately they are anyway, but the interest paid then becomes the property of each, creating not only a global basic income, but secure trust accounts for each adult human who accepts a local social contract

This is a reasonable “next new deal”

Thanks so much for your kind indulgence

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