Extending Credit and Eliminating Banking

بِسْمِ اللهِ الرَّحْمٰنِ الرَّحِيْم

The banks have failed in their fundamental job, and there is no way they will survive the onslaught of the changes ahead. We must ensure that they don’t. The role of banks should have been to identify new patterns of spending, discover innovative ways of injecting liquidity, and, ultimately, find ways to dismantle themselves when necessary. But we can’t ask private corporations to self-destruct because their investors’ rights are seen as paramount, even beyond the rights of the people. No matter how inefficient and useless these banks become, they remain.

The heart of the Brand Currency System is the idea of people extending credit for themselves through their transactions. Once they’ve engaged in certain transactions, they unlock savings that come with those transactions. As a result, they won’t need a bank—especially when they can extend credit for themselves to cover basic necessities, like food, water, electricity, mortgage payments, car expenses, and health insurance.

This ability to extend credit is something I need the Federal Reserve to approve. The system will include transaction requirements tied to reserves, ensuring balance. We are dismantling the banking system, but we are also preserving some of the Fed’s tools to monitor supply and demand, ensuring that credit doesn’t flood or starve the economy. By putting these levers in the hands of the consumer, we show trust in the system. People will send feedback on what they’re eating, drinking, and purchasing. We’re simply removing the barriers between them and the businesses directly—on both the supply and demand sides.

We just need a clearer picture of what the economy is doing and how transactions are affecting the supply chain. We need feedback so the Fed doesn’t have to micromanage value but instead relies on algorithms, AI, and protocols. The Federal Reserve will generate new tools, and these tools will be used to manage the economy.

A Detailed Example: How Extending Credit Works

Let’s break it down. Someone makes a purchase in the "N" category—which stands for needs. This includes essential items like food, water, electricity, mortgage payments, car insurance, and health insurance. These are necessities for survival, and the "N" department receives the most attention. However, not all transactions will automatically qualify for credit approval. People will have to consider their own contributions to the economy and their creativity.

Salaries will no longer be the only way people generate value. This system introduces a larger debate on how value is created and distributed. We’re giving people the power to directly engage with businesses and consumers, but this economy must be managed to maintain equilibrium. If there’s any disruption in supply and demand, the Fed will receive an early warning through the data generated from these transactions. It will signal where problems may arise before they become crises.

Many people misunderstand the Fed’s role. While the Fed does not issue loans or collect debt, it is responsible for building a picture of the economy through the data it gathers. Once a clear picture is built, where people have the power to extend credit to themselves, we will open up the debate about how this system operates.

Unlocking Efficiency Through Truth and AI

Consider how our current system operates. People rely on Medicare, Medicaid, and Social Security, with costs supplemented by government spending. But when we build a system that makes everything more efficient, giving people the power to generate reports and unlock savings through AI, we create something far superior. The foundation of this system is built on truth. With AI, people will be digitally connected to their own customized AI, giving them the power to generate and analyze reports on the businesses they engage with.

People want to be able to draw conclusions based on facts they generate themselves. They don’t want a system they cannot control or see. It’s their system, their taxes, and their government. While deeper discussions will be had down the road, for now, we are in the architecture stage—building the system and displaying it in detail.