> I think we ought to consider a system where the Government or Fed provides the core functionality of “let me put $X in an account so I can use $X in the future” for free and banks compete based on value added
This is simple, straightforward, and disintermediatory, so I imagine everyone involved will fight to the death to prevent it happening.
This is simple, straightforward, and disintermediatory, so I imagine everyone involved will fight to the death to prevent it happening.