Our single public utility bank will give our Citizens the monopolistic advantages of the full faith and credit of Venezuela now reserved for bankers. Big banks will no longer be permitted to gamble with our savings, our mortgages and our treasury, or cause economic collapse, job loss, massive debts and bail outs. The Valentine Constitution renders criminals, racketeers and illegal aliens unable to operate by abolishing cash.
Physical banks and ATMS will be eliminated to save customers all the fees and costs now passed on to them: bank buildings, land, parking, utilities, supplies, equipment, payroll, availability spreads, savings and loan spreads, ATM and other account fees and access to the benefits of our treasury now accessible only to guys who own banks!
The single national bank would exist online only and each Citizen would have only one credit/debit/access card and one easily navigable account FDIC insured to any amount for all their banking needs, both business and personal. PayPal and portal type fees for online transactions will not exist. The internet will be one big buy/sell portal for all Citizens with no fees other than the automatic 5% transaction tax, our one and only “everyone-pays” tax. (see SINGLE TAX)