Smart cards not helicopters

Beckworth wants to inject money into the consumer markets:

Second, the Fed and Treasury sign an agreement that should a liquidity trap emerge anyhow [say due to central bank incompetence] and knock NGDP off its targeted path, they would then quickly work together to implement a helicopter drop. The Fed would provide the funding and the Treasury Department would provide the logistical support to deliver the funds to households.

Well, any agreement between the Fed and Congress is worthless.  Second, if the Fed needs logistic support from the Treasury then the unit of account is already broken. The Fed is the monopoly fiat banker, if it has no access to the retail banker serving the consumer, then the Fed is already  useless. So we are dealing with a broken banking system, or we are dealing with a technology change in money, or we are dealing with a corrupt government in DC. Decide which one it is.

I take the positive assumption, money technology has changed.  The Fed needs to use its regulatory power to encourage the adoption of the universal smart card. An intelligent credit card that can handle any and all forms of digital currency. Does this disintermediate the retail banker? No, the Fed is just making monetary exchange more accurate and efficient.  The Fed really doesn't disintermediate until it offers rates on balances held on the cards, but it not need do that right away.