Competes with the Fed, I mentioned him before.
His ledge is spiral notebook, finite block chain. We run up our tabs in columns, he scratches them out when paid. He can switch us to new notebook and put the old in dusty archives. We get to pay with ATM cards one almost monthly basis, and many of his customers are ad hoc ATM users, paying astronomical fees.
His regulars on credit buy regular, and inventory smoothes. There is about 1.5 points in banking gains in the trade, exchange costs. Any fair traded sandbox S/L pit with transaction costs near zero would work here, and an large variety of adaptations thereof. Smart card paves the way.
This is tax avoidance, escaping the seigniorage fees. PSST in action.
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