Having a name and an SSN associated with the card allows them at least to develop the card as an unsecured (i.e. secured by no particular thing but but everything of the person) credit card as if they actually lent something. It seems rather silly to ask for SSN's and other information for prepaid debit cards when the FRNs in the system are already underwritten by assets.It might also be helpful to consider that the notion of separation between the world of bankers and that of actuaries might only be mythical and misleading. Actuaries might be "king" rather than serf.
Yes! Search out "debit card" here and you will find my experiences a couple years back with VISA. I have phone recordings showing how they would finally relent that I did not owe them a SSN for a debit card. But certainly so if I wanted any credit.
That is an eye-opener how all credit goes back to social security as an insurance policy.
Originally Posted by David Merrill
However I might insist on more honest currency, at least a little bit.
Perhaps through knowledge and application of knowledge we have the power to make that happen with or without Congress.
Originally Posted by allodial
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