[Gabz]

Sniff............

[Lazamataz]

'kay, so explain why consumers would want this? Also, since such a service would be by necessity offered for a fee, how would it guarantee business savings?

[MisterRepublican]

TheNightFly
Since Mar 10, 2005

[Egon]

Private individuals could open virtual electronic banks directly with the Fed. These virtual banks would be purely electronic and entirely managed by the Fed. Individuals would not have any access to or control over them.

Ignoring for the moment that you signed up today, and immediately posted a vanity (however articulately)...

I think this paragraph accurately sums up the first problem I have with this idea.

[Junior]

What the hell have you been smoking?

[Born to Conserve]

So, I go to McDonald's, and ask them for a Big Mac. They go to the Fed and ask them if I have credit, which I evidently have, so they give me a Big Mac, and have the Fed reduce my credit and increase McDonald's credit? Is that right?

I have one addition to this novel idea. How about the Fed give us little metal and paper tokens that represent our credit, and then we can just trade goods and services with these tokens? We can call these tokens "money".

[Flyer]

Employment would increase especially since labor would be virtually free

So this is like a perpetual motion money machine?

[Egon]

The elimination of payrolls would greatly increase business profit margins.

Not sure how this washes. Businesses are still transferring funds through accounts payable that subtract from their profits-- even when they're not writing out checks.

Sure, you can rename them to something other than "payroll", but they still amount to some form of emuneration which the government will trip over itself to immediately figure out a way to tax.

[MeekOneGOP]

¿¿¿¿¿¿

[Conspiracy Guy]

[BreitbartSentMe]

Uuunnnggghhh. Must have more coffee..... This does not compute...

[MarineBrat]

I shall keep you under my bed where you can spawn ideas for ever and ever... or for a week or two while you ripen!

[longtermmemmory]

interesting.

I think it would only work if cash is eliminated.

[Not A Snowbird]

I supposed you'd like us all to go back to living in caves, too.

[mhking]

[trisham]

Consumption is normally limited by income

***************

Obviously a mistake in a capitalist society.

[shellshocked]

Hasn't the government already come close to eliminating payrolls? I mean, 15% to Social Security, 3% to Medicare, 3% to Unemployment Insurance, 20-40% Income Tax Witholding, etc.

We might was well just pay everything to the government and live on handouts like the Communists we are fast becoming.

[PilloryHillary]

You signed up today to post this crapola? Where's the fly swatter?

[JimRed]

More Star Trek proposed for real life!

[Zavien Doombringer]

You do realize the FED is not a government agency...