Possibly in a similar fashion to privately held companies today. A group of workers would apply for a zero-interest loan from the Federal Reserve and then apply worker-self-directed enterprise principles to follow a path laid out by Koch Industries:
Political activities of the Koch brothers - Wikipedia
Privately held company - Wikipedia
"Though less visible than their publicly traded counterparts, private companies have major importance in the world's economy.
"In 2008, the 441 largest private companies in the United States accounted for US$1,800,000,000,000 ($1.8 trillion) in revenues and employed 6.2 million people, according to Forbes."
But again... you are borrowing money in the system that exists today. Under your system, the system that exists today, doesn't exist.
The Federal reserve doesn't have any money, that doesn't come from big corporations.
In your system, no such corporations exist. You just said there are no tradable assets. Where do you think the Federal Reserve gets money to loan? From tradable assets.
There won't be any money to borrow from the Fed.
Further, you are bit crazy if you think you can loan out tens of millions of dollars to random people. Because remember, before you have a company, you have just random people. And you are going to give those random people millions on millions to start a company? You'll end up with Solydra.
Besides that, do you think average workers have any idea how to come up with a product? Will those random worker know which product to try and make? Will they know how to even build a building to run the factory in? Will they know how to setup the equipment?
No they won't. Do you? I don't. Most of the people I have worked with didn't.
This is a ridiculous concept.
The Federal reserve doesn't have any money, that doesn't come from big corporations.
The Fed creates money out of thin air.
I disagree.
The Fed exchanges assets for credits. Those assets have to have value, or the banks don't get any credits.
That implies that corporations have to create something of value to begin with.
And, even if right now they are in fact printing money, even then... money only has value in exchanging it with products that are created by corporations.
Without the corporations making products, money has no value. This is why when the printing of money in say Venezuela, exceeds the amount of products created, the value declines, and the money becomes worthless.
The same would happen here in the US.
The Fed exchanges assets for credits.
The credits are "thin air money".
Those assets have to have value, or the banks don't get any credits.
They could trade for oil, grain, tobacco, anything. So? They don't need a big corporation to do it.
Which one of those isn't produced from large corporations?
I can't think of even one.
Even if I somehow saved up the money to dig my own oil well, or anything else... how do I do that without the help of a major corporation? Where do I get a drilling rig to drill the oil well, that isn't made by a major corporation? Where do I get the seed stock from, to plant a field, that does not come from a major corporation? What farm combine do I get that isn't made by a major corporation?
What this nimrod George is pushing, is the end of all corporation, and if you think there will be any assets at all to trade without corporations, I respectfully disagree.
You tell me what oil refinery exists, that can produce fuel from oil, that isn't run by a corporation.
Which one of those isn't produced from large corporations?
Doesn't matter. The Fed could create money by buying from Mom and Pop companies.
Or by buying bonds, like it does now.
Nothing they do now is impossible in the absence of large corporations.
Even if I somehow saved up the money to dig my own oil well, or anything else... how do I do that without the help of a major corporation?
Let's not mix up arguments. George's borrowed idea to have "electoral college shares" is moronic.
Buying what bonds? There are only two kinds of bonds. Corporate bonds, and government bonds. The government can't buy their own bonds, that would result in a bubble and crash. And we just eliminated the possibility of corporate bonds. So where do you buy those bonds from?
The Fed could create money by buying from Mom and Pop companies.
I would be beyond absolutely shocked, if you could possibly raise enough money to do anything, by buying mom&pop companies.
But even then... what mom&pop company would exist without major corporations?
I've worked at mom&pop shops. Several in fact. I can't think of a single one that would still be in business, without major corporations.
I worked for a trucking company that was a small operation. Volvo trucks come from a major corporation. In his world, that company doesn't exist, or any other truck manufacturer. So where is that mom&pop trucking company going to get a truck from?
I worked for a small family owned car repair business. Where do you think they got replacement parts from?
I worked at a small company that made printers. Where do you think the print heads were manufactured? Where were the metal cases made? Where were the electronic sensors made? Where did the tools we used to put them together, come from?
Everything we used, ever part, every tool, every metal plate, every screw, sensor, every electronic part from the simple resistor, to the 80186 Intel chip, being made by AMD, was all, every single thing, made by a major corporation.
What business could really exist without corporations that George would have cease to exist?
I can't think of hardly a single one. Maybe a guy peddling flowers he picked from the woods? And how would government get money from him to do anything?
I'm skeptical of your claim.
The government can't buy their own bonds, that would result in a bubble and crash.
Until 2008, the Fed only bought government bonds.
I would be beyond absolutely shocked, if you could possibly raise enough money to do anything, by buying mom&pop companies.
Yes, it would be a pain in the ass, but it could be done.
You should really get off this Fed diversion you've stumbled onto. Because it's clear your understanding of the issue is imperfect at best.
But even then... what mom&pop company would exist without major corporations?
The rest of your post is off the topic of central banks creating money.
George's corporate idea is beyond stupid. I don't need you to point out any more of its flaws.
