> What if we had the central bank give everyone an account that was interoperable with the rest of the banking system? Many economists and others have been cal

> What if we had the central bank give everyone an account that was interoperable with the rest of the banking system? Many economists and others have been calling for this [1], and seeing the replies it looks like many countries already implement this. If this existed, then we wouldn't need to funnel 3% of these emergency loans into the private banking industry, a pretty outrageous loss of money for what amounts to some modest paperwork. [1] https://www.npr.org/sections/money/2018/07/11/628173553/fed-accounts-for-all https://www.npr.org/sections/money/2018/07/11/628173553/fed-...