The United States Bank

f America is to recover from the economic debacle of the last 50 years, it is necessary to attack the problem across a broad front. The largest target of reform is the institution of banking. Here we have the single greatest waste of "transfer money" (an alleged service to the community on a par with that of restaurants). However, a bank performs ... actually ... NO USEFUL SERVICE that demands vast exchanges of monies and the concommittant "rakeoff" by those in the banking business. Nothing positive is accomplished by banking that couldn't be accomplished much more effectively and fairly by a simple, at cost, government service.

Therefore, I here propose that the bulk of the banking business be taken over by a "morphed Federal Reserve" ... The United States Bank.

What will this new bank do which has not been done in the past?

It will primarily make 0% or extremely low interest home loans so that people may buy a home without paying double the price of the home in order to underwrite a life of ease for a banker's "totally ridiculous and unnecessary service".

A real service involves action on the part of a person's body. To perform a service you must consume calories. A waitress performs a necessary service ... she moves, writes, carries, cleans, etc. in order to produce goods for the consumer (food). A bank teller performs an unnecessary service. She moves, writes, types, etc. but no physical goods are produced ... only the current arbitrary means of acquiring goods from someone else. Her service is directed at the transference of an abstract entity (money). The fact that there is "real" paper somewhere is not relevant here because the paper only represents something else ... an abstraction. Hence, if there were a way to bypass this middle operation it would well serve civilization if and only if the bypass is more effiicient than the middle operation it replaces.

It will also moderate the timed money for international trade spoken of elsewhere on this site.

And they may issue "credit cards" to their depositors which are keyed to the depositors income and require that greater percentages of the debt must be paid monthly as that credit card debt goes up ... thereby preventing the card holder from falling into a hole of his own making from which he cannot extract himself. And ... they will actually take steps to prevent credit card theft (as outlined in another page) ... and ... "Good God in heaven!" ... they will actually prosecute credit card theft instead of just passing the loss along to the other card holders in the form of higher interest rates.

What the United States Bank would not do is give loans to large businesses, corporations, foreign governments, etc. It needs its money available as loans for individual Americans. Its business is directed at making life easier for the lower end of the social spectrum as opposed to what banks do now ... the opposite.

How is this to be accomplished?

You put your money in the United States Bank in order to obtain a home loan. You take it out of the other banks and transfer it here ... where you receive no interest on your deposited money ... but they take no interest on your loan as well.

Who's going to put their money into a no interest system? Not everyone ... just those who want a secure place to store value ... after the FDIC has been abolished. That's right. No private bank will any longer be underwritten by the "full faith and credit of the American people". That backing will be extended only to the official -no interest- United States Bank.

This would cause the collapse of many private banks if done all at once. So, the new bank will take up all home loans whatsoever, transform the balance into 0% loans and take in the equity payments from the home owners. Everyone will like that ... except ...

What will the members of the banking community do then?

There are several options:

  • Find another job (waiters, sweepers, carpenters, bricklayers, etc.) There will be a big boom in the housing business with 0% home loans.
  • Continue making loans to the wealthy who won't be eligible for mansion size 0% loans. (There will be a cap on loan sizes consistent with the size of a modest, family, 3-4 bedroom home. Thus, if you want to buy a $1,000,000 extravagance you might get $80,000 of it in a 0% loan and have to get the rest from a private bank at high interest. Wait a minute! ... they can get it at the United States Bank at low-moderate-high interest and the profit will go to more money for the 0% loans.) That's the ticket ... graduated interest loans ... the less you borrow - the less the interest. Say, over $50,000 for a home loan, the interest goes up (from 0% @ $50,000 to 20% @ $1,000,000) on a graduated curve which would discourage very large loans with punitive interest rates.
  • Retire from the game and live on their "winnings" which will not be confiscated.
  • Commit suicide because to the great injustice that has been done to them because "They just don't appreciate the butt-f_____g we've been giving 'em all these decades! Wahhhh!"
  • What are you getting from a bank which is worth supporting that institution?

    Why do we support the magnificent obsolescence? Is it because of their integrity? ... their honesty? ... their usefulness? ... their conservative support of civilization? ... their stalwart trustworthiness?

    If you had access to their secret ambitions, the above would be risible. Why not cut these useless middlemen out of the loop and save big bucks? Stop accepting 4-5% interest on your savings account and paying 10-20% for your loan so these leeches can live the good life without strife. Think of all the interest you've paid these jerks throughout your life and ask yourself,

    "What did I get that was worth _____ dollars?"

    Don't say it was your home or your car ... that's what they want you to believe, i.e. that it is only through their good offices that you were able to obtain the car-vehicle-education-whatever ("Why, without me you'd have nothing!") And please don't say it's so you can have it now rather than later ... That's what the whole freaking national debt is about !! ... But ... where's your cut?

    If the government went into debt for one generation ... and that generation got it's home-education-etc. paid for by a no interest loan ... Then they started paying back that debt ... and more people came on board with more 0% debt ... The net result is that the U.S. Bank would be in constant debt ... i.e. stable at some constant amount. (All other things being equal, i.e. population, inflation, etc.)

    Why ??????????????????

    Why do people have to pay double the cost of a home in order to own it?
    ... double the cost of their education? ... nearly double the cost of a car?
    Why do people have to "rent" an apartment ...
    Why can't they own their own place?
    Why can't they just buy their apartment like it was a house and use the equity for downpayment on a real house?
    Why do people have to buy car insurance for the other guy if "no-fault" insurance is the order of the day?
    Why do we pay certain individuals gobs of money for nothing (in the form of interest or other "absences of service")
    ... just because they presently control the spigot?

    The answer (and the ONLY answer) is ...


    Ebtx Home Page