what does a bank produce? – loans -if a bank does not produce loans – it is essentially defect and may as well be closed

is unconditional basic income aka “free money” for the masses good or bad?

what would be much more important than monetary gifts (see unemployed people in eastern Germany even when given “free money” are unsatisfied because they have no work/no meaning/purpose in life.

What would be important to put in requirements and regulations that say banks must lend 90% of their newly digitally self-generated money and FED/ECB cash 0% (which is essential also “free money” (interest rate = the costs of money/currently: no costs))  to entrepreneurs and self-employed people and people with ideas that want to become entrepreneurs

currently it works like this:

a private bank borrows 1bn Cash from FED or ECB
for 0% or almost 0% and instead of phoning up and investing in ads “have an idea? here is your loan” providing the economy and innovative people with cheap money to turn ideas into reality and create jobs – it is – at least in the EU area largely put back into an ECB accounts even when that means paying “parking fees”.

https://www.merkur.de/wirtschaft/ezb-warum-banken-strafzins-zahlen-6709249.html

“but have to pay ample penalty interest due to high liquidity surpluses”

Wirtschaftsminister kritisiert Banken für zögerliche Kreditvergabe

“they (the banks) said,” We don’t give you credit, because we don’t know how long you can’t produce, how long the corona crisis will last.“

money that is not put to work / does not create jobs is a defective monetary system and needs to be fixed or risk major unrest.

a unconditional basic income (UBI) makes sense at this point in time / in this situation that banks fail at bringing “money to the (real) economy” / banks do not want to bring money into working hands thus the state and the customer must do it.

It would be the best economic program ever.

everyone would get 1000USD or 1000€ a month for a limited time – let’s say one year – then check how the economy performed.

and repeat or stop – but at least try.

then, of course, there is the question of sustainability

of course, it would be great to link a UBI directly with requirements for more sustainability such as:

  • electricity providers must be changed if not 100% of energy comes from renewable sources

there are two reasons why UBI might be prevented:

  1. the banks are convinced, that printing money for themselves is “fine” while printing money for “jill and joe” would lead to Inflation (does not make sense to me)
  2. why is the tax system so complicated? because it creates senseless jobs / so it is simply a job creation measures / a lot of administrative jobs could go away if UBI replaces all the complicated social programs and maybe even pension

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