​

Summary and Aims of our policy.

​

To eliminate all forms of financial crime through a restructured banking system.

​

Current unresolved issues.

​

The hiding place of all financial crime is the hidden and untraceable bank accounts in the world, and cash.  Most crime is carried out to acquire money, it therefore will always involve transacting money, and hiding these transactions is the most essential way in which criminals hide their crimes, and render them untraceable.  Exactly the same logic applies to lesser forms of crime, such as corruption, bribery, unfair trading, scamming, hidden deals, and unfairly favourable benefits.  All forms of financial crime need financial privacy in order to function, indeed privacy is the safe place for all crime.

​

Is there a system of banking that resolves all financial crime in one action? 

​

We believe there is, and it requires a simple choice on the part of all people, have financial privacy, and have all manner of financial crime, or abandon the idea of financial privacy, and eliminate financial crime.

​

Our Policy - How it resolves the issues and achieves the aims.

​

​Our policy is very simple and very radical, we call it Transparent Banking:

​

1. Eliminate all cash.

2. Have one centralised non profit making bank that holds all bank accounts.

3. Make bank accounts fully visible to everyone, (by publishing all bank statements online in real time).

​

The key debate for society is which bank accounts do you make transparent, and it is something that people will need to accept and be comfortable with.  One of the things we have repeated seen on our campaign trail is that there is much talk in the electorate regarding mistrust or corruption in government, and this would be the first obvious place to start.  So we could start by making MP's and all government institutions bank accounts transparent, such as HMRC, party bank accounts, public services, etc.  The discussion that follows outlines the effects upon the individuals, or institutions and businesses of making bank accounts transparent.

​

The effect of this policy would be categoric and total upon these accounts, it would render the committing of any financial crime nearly impossible through them, as a full audit trail of the crime would be immediately created in real time as transactions are made.  Even if someone did succeed in committing a financial crime, it would be a simple matter to investigate, prosecute, and rectify the crime, (by returning any monies to the rightful owners), given that there immediately is a full historic record of every transaction and flow of money.  It would be impossible for there to be corruption in government as it would immediately be publicly visible, and therefore there can be no accusation of corruption.  This would build a deep trust between government and the people, which is based on explicit publicly transparent facts.  This is crucial for the effective running of a country, as without it government and people will not work well with each other. 

​

To be explicit these are some of the immediate benefits of transparent banking.

​

• The elimination of all forms of monetary theft, such as scamming, fraud, and conning people.

• The elimination of all forms of illegal trading such as illegal arms dealing, drug dealing, human trafficking, protection rackets, black markets, etc.

• The elimination of all forms of property theft, as thieves have to sell their products, creating an audit trail.

• The elimination of monetary corruption, bribery, unfair trading, hidden deals, and unfairly favourable benefits.

• All forms of miscarriages of financial justice, would become difficult or impossible, for example the post office scandal.

​

There are many other deeply beneficial effects of this policy, which increase as you make more accounts transparent.  If society was ultimately to feel comfortable making all accounts, to include all business and private accounts transparent, then the beneficial effects would be very profound indeed. 

​

Given that people will see what everyone is earning, people will be able to ensure that they are getting fair pay that is equal to everyone else who does the same job, and women can for example check that they are receiving the same amount as men.  This levelling up and balancing of pay would occur across the entirety of the economy, and ultimately promote a much fairer distribution of wealth, and a reduction of the wealth gaps in society.  Everyone would feel everything is much fairer and safer, and know they are receiving what they should be.

​

Balancing of the workforce through supply and demand.  It is our view that there are professions that are overpaid, and professions that are underpaid.  If everyone could see what everyone is paid, people from underpaid professions would be attracted to work in the over paid professions, the supply of labour would therefore increase in this profession, and the pay for it would reduce as a result.  The opposite is true for the underpaid profession, where the pay would increase.  The effect of transparent banking then would be to balance pay correctly throughout all professions, according to how humans value working in each profession.

​

Tax fraud and evasion would become impossible, ensuring that all people pay their fair portion of tax, and this would make the overall process of tax collection more efficient, saving yet more money for the country.  Benefit fraud would similarly be eliminated.

 

Linking transparent banking, with an automatic system of booking keeping and accounting, will enable a fully automatic system of accounting and tax collection, saving £billions in the British economy, see our Automatic Accounting and Taxation policy.

 

In general the entirety of the workings of our financial system, that is transacting money and banking, savings, investments, trading, bookkeeping, accounting, taxation, indeed anything that involves money, will become much simpler, safer, cheaper, and free from crime.

​

Another huge benefit of this policy is that if you only have one non profit making central bank, the possibility of a bank run or banking crisis is almost eliminated (and it is totally eliminated if you have one world bank), for the simple reason that if someone takes money out of one account in the bank, it is most likely to end up in another account in the bank, as it is the only bank that hold accounts!  How wonderful this is, as it acts as the most enormous safety anchor, which grounds and stabilises the whole economy, and vastly reduces the cycles of boom and bust, recessions, and depressions.

​

The benefits of this policy can be taken to a whole new level, if people are brave enough to accept the opportunities it offers with data.  With a single banking and accounting system, the amount of publicly available data regarding our financial system is in a sense total.  Algorithms can analyse this data simply and quickly to check the financial health, and lawfulness, of any system , business, or person.  So the economy could be very closely monitored, and any potential problems highlighted and resolved, before they ever become serious.  Banking crises, recession, and depressions would be a thing of the past.  Businesses can use better algorithms fed with better data, that analyse their financial data, and then offer financial advice and warnings of risk areas.  They can also use the same information on other companies to asses their credit worthiness.  There is great opportunity to use this technology for the benefit of people.  On a personal level an algorithm could let someone know that they are running too much debt, drinking to much alcohol, or spending too much in an area that they don't need to, and businesses will be empowered to understand if it is a good idea to extend loans to them or not.  People will become empowered with greater knowledge of themselves, and their financial management, and they can correct any problems they have quickly or seek help.  Alternatively the supporting authority can be alerted through an automatic system, and offer this help if need be.  If we use technology wisely, and forgo some of our privacy, their are endless opportunities to protect people and better our lives.  See our Public Database Policy.  We understand our policies are radical, but we respect societies preferences and change can be brought about slowly in stages, and at a pace that people are comfortable with.

​

Ultimate policy.

​

The ultimate form of this policy is to have worldwide transparent banking, from a single world bank, using a single world currency, in order to bring the full benefits of it to all people.

​

The shift to transparent banking will represent a fundamental shift in the priorities of mankind, a shift where being functional, law abiding, efficient, and committed to fulfilling our dreams, is placed first, and regarded as more important than cultural priorities such as privacy.  The choice we have is always simple; more privacy and more crime, or less privacy and less crime.  We believe this represents a state of consciousness of mankind where all our priorities are in the correct order, and in alignment with the mission of Empowering all People, Solving Everything, and Fulfilling Every Dream.   See our Transparent Truth Policy.

​

There is another profound benefit of transparent banking, it eliminates most of the distrust in the world.  People will know the truth of where everyone and every organisation, stands financially.  They will be able to verify, from the financials facts, that everyone is law abiding, and trustworthy.  All the mistrust of governments, politicians, civil services, corporations, the very wealthy, the media, any one or any organisation of power, will be greatly reduced.  Trust is essential for cooperation, and effective working between people and organisations.  For example if the people do not trust the government, it makes it difficult for both parties to create a functional country.  Trust is also essential for comfortable and peaceful relationships, without it, tensions build, and civil unrest or war can erupt.  Transparent banking creates universal, fact based trust, a state of consciousness that is extremely desirable and beneficial for humanity.

​

Wellbeing and cost benefits of this policy.

​

The costs savings of this policy are the total saving created by the reduction in the time and money, related to all criminal and unscrupulous financial action, and the total saving in eliminating or reducing numerous professions such as accountancy, bookkeeping, tax collecting, tax advising, tax inspecting, the law profession, policing, etc.  This is a significant proportion of British GDP, possibly 5% or 120 £billion.

​

The will be a great increase in wellbeing due to reduced crime and stress, and people will have a better quality of life as a result of improved standard of living.

​

Supporting policies.

​

Supreme Law Policy

Law & it's Practice Policy

Education Policy

Transparent Truth Policy.

Public Database Policy.

Automatic Accounting and Taxation policy.

​

​

Witten by Marcus white © 2024, updated 25-4-2024.

​

​