So what would happen if there was a federal bank?

[Scustin Bieburr]

What i mean is, instead of an EBT card, you have a debit card so that ALL govt benefit payments go into it.

A federal bank owned by the government that isn't allowed to speculate on real estate or basically gamble with your money and debt like the banks did in 08. Any payments you're entitled to or have applied for just get deposited straight into that account. This means if the fed decides to do reparations, those funds are put into that bank account. Not your personal one, but your govt bank account as a monthly payment.

What might society look like under this system?

 

[ORDER_66]

a federal bank?!? you mean like the u.s. mint???

 

[bourgeoisie tall freak]

you don't really need an account to effect payments. like you pointed out EBT cards, and they also have a card people receive social security benefits if they dont want it in their bank account. why do you think any payment needs to be tied to account? that's administrative costs

 

[Eternal Tecate]

this is what the CBDCs are about