FEDEC, more than ever, remains a means to prevent these deaths and injuries, as well as the enormous economic damages they inflict, such as the cost of medical treatment, law enforcement, justice systems, and prison operations, not to mention tax evasion and drug trafficking.
Everyone rejects prying into financial records by insurance companies, lawyers, medical providers, and advertisers or by government snoops, and FEDEC would not permit that.
Although Warwick doesn't admit as much, FEDEC
funds could also be impounded or inflated at the whim of government, leaving those who depend on them entirely at the mercy of the state.
It would be foolish for culprits to somehow electronically "steal" FEDEC funds by moving someone else's funds to their own account.
FEDEC would operate similarly: In drug investigations or other criminal proceedings, all transaction data and facts could be retrieved and the gathered evidence could be used against criminals in court.
Federal electronic currency, or FEDEC, would have to be implemented in stages.
This would further prompt individuals to apply for FEDEC accounts.
Clearly, designing, building, and deploying FEDEC would require major governmental outlays and impose significant costs on industry.
On this basis, Warwick explains, the government would be able to "guarantee FEDEC
money both as keeper of funds and as warrantor of their genuineness."