2 ms·

Maybe the fed should open a bank for deposits that's guaranteed but provides either tbill interest or zero interest. It's pretty ridiculous for people to need

• deathhand 4y ago
  Are your computers and networks secure? If you operate in 1% space of wealth there are and should be risks. Making everything the lowest common denominator literally leaves us with Camacho for president.
  • dlubarov 4y ago
    Why should there be risks? If someone just wants to park some cash without it possibly disappearing, that seems like a solvable problem. E.g. as the parent said, central banks could simply offer accounts to anybody.
• thanksgiving 4y ago
  > Maybe the fed should open a bank for deposits that's guaranteed but provides either tbill interest or zero interest. > It's pretty ridiculous for people to need to judge whether their bank is fiscally sound. This is a great idea. We should look into this more. iirc three researchers asked this same question back in 2018. > A potential policy recommendation was posed in 2018 by three researchers, two of whom worked in the Treasury Department. Under their proposal, the Federal Reserve would offer the option to all individuals and businesses in the United States to open a bank account, termed a “Fed Account,” with the Federal Reserve itself, providing an alternative to private banks or credit unions. Such an option could have significant effects on a wide array of monetary and economic issues. https://econreview.berkeley.edu/fed-accounts-and-the-right-to-save/ https://econreview.berkeley.edu/fed-accounts-and-the-right-t...