Before I start, I'd like to say that this is off the top of my head and not some long toght out concept. I'm totally open to the idea that this might prove ridiculous and am open to any honest criticism. This is an Americancentric idea and I'm a Floridian so I'll be using Florida for my example. 1. The Floridian government establishes a new bank, the Bank of Florida (BF), to serve Floridians. While it would operate independently most of the time, it is fully owned by the Floridian government, it's leaders are appointed by the Floridian government and the Floridian government has veto power in the event that the bank takes actions contrary to the goals of the Floridian government. 2. The Floridian government immediately transfers ALL assets to BF (monetary assets, payroll, investment funds, mortgages and other loans, etc.) and BF starts doing private business in order to establish it's assets. 3. The Floridian government issues Residency Cards to native Floridians. Those living at the time would have to provide proof of residency and a birth certificate showing a Floridian birth while newborns born to resident parents would receive a Residency Card at birth. Leaving the state for more than 12 months without maintaining a primary address in Florida (exceptions being made for education, government work and military service) or being convicted of a felony by Floridian or Federal courts would result in the revocation of that person's Residency Card. Revocations are irrevocable except in the event of fraud or clerical errors. 3. BF would, once sufficient assets have been established, begin issuing a new currency called the Floridian Paso (FP). This would only be legal tender in Florida and would coexist with rather than replace the USD. NO physical currency would be issued, all transactions would be digital with BF issued debit and credit cards (only issued in FPs to promote the use of the currency) being the extent of the currency's physical interactions in trade. The FP would be backed by BF's assets (which would ideally include physical assets like gold at this point). 4. On the 1st of each month following a Resident Card holder's 16th birthday* (or the month of if the age of majority is reached on the 1st), each Resident Card holder will receive a UBI of an amount prescribed by the Floridian Congress. * The age of majority is 16 in Florida though Federal law (which sets it at 1 overrides this in the event of Federal age restrictions (such as voting).
Interesting! Did you know that ten USA States are discussing the minting of State coins and encouraging local governments to print up local currencies? http://money.cnn.com/2012/01/17/pf/local_currency/index.htm?iid=F_Jump
