And then instead of giving them actual gold,

And I don't hand that person gold.

I'll open a bank account.

That would lead to the end of cyclical consumption and the end of monetary system.

You can kind of say they keep on renewing those loans.

The person who runs it nicely describes it as

I'd like to open a savings account.

Which is his right.

Let me do that I'll do that in purple. These are checking accounts or notes deposit accounts for people.

The money has been wired to your account.

And then I have checking accounts for these people who deposited them.

Accrued interest will be paid into your account.

I can do a Price to Earnings on my bank account.

At the beginning of the week,

Now the natural question is, how far can this process continue?

Fifty percent of all the money that they earn or get gifted, 50 percent goes in their house account, 50 percent goes in their toy account.

Joint account was opened. Only two people could draw on it.

They're monitoring their neighbors' positions.

Maintain current course and speed.

I only have 1,000 of cash.

I could have also issued notes and all of that, but let's say

although this would be an asset for him is a checking account.

Everything's plain... taxes, bank accounts.

He opened a checking account with the bank.

So in the second year, I actually do nothing with the money and you know, I might actually be spending it on my own yachts and you know, fancy suits and whatnot.

And the logic being that if I'm charging you 100 , I'm charging you 1 for you to keep the money for the whole year, I'm only going to charge you half as much to keep the money half the year.

Microsoft makes a lot more than that, but I make a billion dollars.

So?

If a bank account only gives me 2 on my money, and this company is arguably giving me assuming that it's stable and I believe the consensus it's giving me 10 on the money, why would I even hold this bank account?

For this purpose, SEWA mediated with the bank officials and organised camps in the villages itself.

Stay Offline

So how can we do that?

An account has to be opend for this purpose.

Some say that you've made a lot of money by spreading illegal material.

I have a lot of money in my savings account.

So this program has split into an NGO foundation, a Fab Foundation to support the scaling, a micro VC fund.

And then I can create a checking account for him.

So this is lending some cash.

If you ask me how much money I had,

Then he'd have access to those accounts from anywhere.

Stay on target.

Stay on course.

y ou left me no choice, brother.

I don't have an account at that branch of Tokai Bank.

I do not have any account in the branch office of Tokai bank.