Book-1 Chapter 1: You Never Give Me Your Money – Federal Reserve

“No more BANKS!” she said.

“Exactly!” he winked at her and turned back to step up on the
platform. “Julie is right. In a time based economy, there would be no
such thing as a bank or any such distribution institution. That is, after
all, what a bank really is—a distributor. They, not the government,
take the paper bills and issue them to the public. Ever wonder why
you don’t go to a government building to get your money? Why
aren’t there U.S. Treasury ATM’s on every corner, instead of ‘The First
National Bank of Bayonne’? The reason is the Federal Reserve Act of
1913. It gave the distribution rights to the banks, exclusively, through
the newly created Federal Reserve Board. But that was 1913! Long
before computers, the Internet, cell phones, wireless networks and
everything else that we have today. The Fed now stands in the way of
us realizing the full potential of our technologies. Now that we have a
simple and secure technology to store and circulate time credits, why
do we need paper and an arcane system that supports it? Think about
it.”

“How can it work without cash?” someone asked.

“Think people, think… you have your smart card, like you use
now on campus. You go to work and your employer credits the hours
you labored directly onto your card. Your employer keeps accounts of
all your work time, same as they do today. When you buy something
you use your smart card and the credits go from your card over to the
store. They in turn, use those credits to buy products to stock their
shelves from manufacturers. Much of our transactions today are
cashless already. They are just so many bits and bytes of computer
data moved back and forth. There is no need to retain paper or coin,
for our current economy to function. It could all be done with plastic,
right?”
Page 14


  • http://www.churchgrower.com/UserProfile/tabid/244/userId/1679139/Default.aspx manchester mini skip bin

    It’s really a great and helpful piece of information. I’m satisfied that you just shared this helpful information with
    us. Please keep us up to date like this. Thank you for sharing.

    My web blog – manchester mini skip bin

  • http://www.la.fnst.org/?option=com_k2&view=itemlist&task=user&id=316811 Wilfredo

    Asking questions are truly good thing if you are not understanding something entirely, however
    this post gives good understanding even.

    Here is my weblog; http://www.la.fnst.org/?option=com_k2&view=itemlist&task=user&id=316811 (Wilfredo)

  • http://construction4london.com/component/k2/itemlist/user/67650.html Gita

    Thanks for sharing your thoughts. I really appreciate your efforts and I am waiting for your further
    post thank you once again.

    Here is my webpage :: http://construction4london.com/component/k2/itemlist/user/67650.html (Gita)

  • http://www.Mkholidays.co.uk/index.php/component/k2/itemlist/user/67700 Sara

    Hi everyone, it’s my first pay a quick visit at this web page, and piece of writing is truly fruitful in favor of me, keep up
    posting these articles or reviews.

    Here is my website; http://www.Mkholidays.co.uk/index.php/component/k2/itemlist/user/67700 (Sara)

  • http://astypalea-rentacar.gr/?option=com_k2&view=itemlist&task=user&id=307880 dumpster rent companies

    Thank you for the good writeup. It in fact was a amusement
    account it. Look advanced to more added agreeable from you!
    However, how could we communicate?

    Also visit my weblog: dumpster rent companies

  • http://kingsmusicstudio.com/?option=com_k2&view=itemlist&task=user&id=108419 skip hire available

    I have been surfing online more than 3 hours today, yet I never found any interesting article like yours.
    It’s pretty worth enough for me. Personally, if all site owners and bloggers made good content as you did, the net will be
    a lot more useful than ever before.

    Feel free to visit my web-site: skip hire available

  • http://www.imbmultifor.it/?option=com_k2&view=itemlist&task=user&id=78039 http://www.imbmultifor.it/?option=com_k2&view=itemlist&task=user&id=78039

    Highly energetic article, I enjoyed that bit. Will there be a part 2?

    My web site http://www.imbmultifor.it/?option=com_k2&view=itemlist&task=user&id=78039

  • http://www.watania.gov.sd/index.php/component/k2/itemlist/user/60973 smaller skips

    Great post. I was checking continuously this weblog and I
    am inspired! Very useful info specifically the closing phase 🙂
    I take care of such info much. I was seeking this particular information for a long time.
    Thanks and good luck.

    My page – smaller skips