City of San Diego considering creating a public bank. San Diego Coin will be presented to City of San Diego as a possible project to fund using funds from this new local public bank fund.
sandiego·@ackza·
0.000 HBDCity of San Diego considering creating a public bank. San Diego Coin will be presented to City of San Diego as a possible project to fund using funds from this new local public bank fund.
https://www.sandiegouniontribune.com/communities/san-diego/story/2020-02-02/state-legislation-prompts-san-diego-to-explore-creating-a-city-owned-public-bank?utm_source=dlvr.it&utm_medium=twitter  https://twitter.com/sdut/status/1223955869764734978  >“There’s really something for everyone in this,” said Jeff Olson, a North Park resident spearheading the effort as head of a new organization called PublicBankSD. “We’re going to make a ton of money out of thin air.” # *“We’re going to make a ton of money out of thin air.”** I love it...... I will be there at City Hall to guide them through the EOSIO process and have my ideas stolen with a smile! Im already looking forward to handing over the EOSIO keys and making them immutable or, better yet, signed over to 12 account multi sig @EOSDAC wallet with 12 elected officials holding the keys, with the keys changed when they leave office. >In a letter to the state Assembly, lobbyist Moira Topp said a public bank could be “an innovative municipal finance tool that could allow cities like San Diego to truly invest in its citizens.” Topp said the state legislation includes many benefits for cities, but it’s also carefully written to avoid financial pitfalls. “The city could potentially reduce costs and provide access to capital for its residents, businesses and nonprofit organizations,” she said. “The bill includes safeguards and fiduciary requirements to be met before the city could establish a public bank and would require this bank generally comply with requirements in state law for commercial banks.” Did Someone day https://SanDiegoCoin.org ? San Diego’s first step is hiring a financial firm to determine the estimated start-up costs of a public bank, create a business plan and analyze the potential long-term cost savings and revenue for the city. >AB 857 requires cities to complete such an analysis and submit it to the California Department of Business Oversight, which could then give San Diego permission to open a public bank. Olson said he’s optimistic about the results of such an analysis, which could be complete by late 2020 if the city makes the $250,000 available in the new budget it’s scheduled to adopt in June. With $250,000 I could create the entire system and maybe even launch the first city ICO and raise 1 billion or maybe EOSIO style $4 billion, why? Because if we are the first city to adopt Block One EOSIO tech, imagine how much money a CITy with EOSIO based Real Estate Lending market system and Real Estate backed Universal Work Income could do for its residents. Money from new users (residents) comes in from taxes on SAND transactions on the local currency used with built in tax transaction smart contract, used for all real estate payments RENt etc, users (residents) will make San Diego Anti Fragile so that the more people we get the more money goes automatically to building new houses UNTIL we start building more homes than we can fill. The desert here is ready for massive commercial and residential real estate expansion, Im talking Johnny Depp Transcendence level take over of Mohave Desert and Salton Sea Desalinated :D THE MORE PEOPLE MOVE HERE, the MORE MONEy is raised to build houses. EVentually we have a city that keeps expanding and building more houses than we can fill, drawing in more users (people) from other cities, allowing San Diego to raise even more capital. We will eventually reach a happy medium but we can maintain sustained growth for decades this way with Smart COntract real Estate EOSIO blockchain that allows anyone to save up for their first HOUSE or APT or even pay RENt using EOS VOICE social media and @challengedac and @telokanda style tasks >“My group paid an economist to do a preliminary business plan where he pulled all the numbers from the city’s comprehensive annual financial report into a banking model, and it shows an immediate 15 percent return on our investments, and in the second year it looks like we get a 24 percent return on our money,” Olson said. 24%? Sounds like Telos REX APR! I just messaged douglas horn telso founder about how we can use a Telos rex Lending Platform for Real Estate Loans and allow anyone who buys them just buy telos, or a telos fork, this then allows you to VOTE on worker proposals FUNDED by this city wide system, tokens will be purchased on the market by our cities system, we will have a local coinbase style service to handle buying and selling of BTC using @worbli for KYC and we will end up buying our Telos Fork EOSIO chain token or Telos TOKEN, with its own WPS system, on Newdex, so anyone can invest in San Diego, and earn 15-20% interest on the SAND REX ....and then they can vote on the proposals. But all San DIego residents will be given a telos Wallet and DELEGATED 1 Telos SAND or this new San Diego bank Telos fork token with a max supply of city population, inflation would only be issued after each yearly census. EOS VOICE will be used >The city’s first public debate on the subject will be Olson’s presentation to the council’s budget committee, which is scheduled for 9 a.m. on March 11. I will be there to represent SAND and EOSIO Telos    SAND uses @appics as its Official Choice for Mobile App. https://appics.com Free to SIgn up always, just need a steem account and I have 2000 so far for San Diegans. 3 Steem each or 60 cents each per
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