A fundamental rule in the monetary system that I propose described throughout in this blog is that that every entity that transacts with digital money must have a bank account. Those that do not currently have a bank account are called "unbanked". In this information age of digital money in bank accounts everybody must get banked. It is a world wide objective.
The government is promoting being banked and for those that are unbanked it sends out debit cards. The preferred situation is to be banked. The time is probably also coming when everyone must have a cell phone and carry it at all times for bio identification and location tracking. Not soon, I hope.
I fully support the rule that every entity that spends or receives money must do so through a bank account. The bank then makes adjustments among accounts as well as passing transactions to the government to implement changes in ownership relationship of money in the government debt free monetary system. A system where all digitized, serialized dollars in the unit denomination of one is maintained in a cyber vault, (at Fort Knox) much like gold, and never moves. Only the accounting association relating to who owns what is in the vault changes.
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