It replaces all the other financial safety nets, but not all social services, such as universal health care. The savings involved in dismantling the corpulent

It replaces all the other financial safety nets, but not all social services, such as universal health care. The savings involved in dismantling the corpulent bureaucracy currently managing and adjudicating benefits will actually go a significant way towards paying for UBI. IMHO, ideally, UBI would be sacrosanct, and could not be legally garnished to service any debt. This would prevent if from being used as collateral, and ensure that it would remain available to support the individual - people would not be able to ever get themselves into such debt that they became a burden on society, since they could never borrow against it. Moreover, it may be better method for managing inflation than our current setup of anointed central banks making themselves money out of thin air: Instead of passing out money to the banks, in order to generate velocity, deliver it to the citizens in the form of a deposit into some form of money market account, thereby immediately putting it into circulation in the economy.