The concept here is simple. Should the church take on some
of the functions of a bank? Let us discuss.
The idea: What inspired me for this idea is
the Knights Templar of the Crusades. They actually acted as something
similar to a bank and thus had vast sums of wealth to call on (this also made
them a target and thus there overall extermination). So in the modern
concept, the Church would provide bank accounts to the people where there will
be no fees imposed, no interest collected or earned, and provide loans that do
not garner interest either. Basically, it would act as a bank primarily
to the poor, who lack the money or assets to open a traditional bank account at
a normal bank (though people of higher incomes would be able to open accounts
as well).
Purpose: The main goal is for the poor to finally have a safe
place to deposit their money with little risk to that money being stolen (i.e.
part of the reason banks were created in the first place). Traditional
banks charge fees just to take out money or put money in as a service charge,
but a bank run through the church would not be able to do that. Also, the
church can provide loans that gain no interest and thus make it easier for
poorer elements of society to pay back a loan and thus not go into debt (which
exacerbates poverty). Of course in return, no interest will be given to
those with the accounts either as money in this case becomes a finite resource
(there is no revenue earning opportunities which would allow such services).
Also, there is a possibility that because the account is run by the
church, then the government would not be able to seize the money inside your
account due to the separation between church and State. Hence it becomes
a form of tax haven as well which will in turn protect people’s assets.
Goals: For one, it provides another use for the church, in
this case protecting people’s money. It also allows them to use the funds
in the same way regular banks use loans, but in this case to support the church
and perform charity. It will enable a form of protection for bank
accounts as the church is not subject to market devaluation or influences like
regular banks. So they cannot shut down. Also, with the church
being everywhere they can mutually support one another if funds run low for any
reason. A final benefit and goal is to empower people's money. In
this case due to the vast amount of types of currencies that the church
collects, they can exchange funds based on value at any given church location
free of charge. Not only that, if the value of say the Euro, or the
dollar goes down, they can convert your money to the next strongest currency. As
such, the value of your money will always be maintained.
Conclusion: Money is precious, but we put it
into institutions that place the money at risk. The church, while still
risky in some capacities is still a safer bet than a regular bank and they will
not charge you an arm and a leg to keep and take money out of your own account.
Heck, the church can even monitor your money for you and give you tips on
places to find and buy your goods cheaper. All in all, is this a good
idea? Possibly if handled correctly. But if this idea is
worthwhile, then let’s hope the church implements it soon.
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