चलो कल्कि मन्दिर बनाते हैं #kalki

चलो कल्कि मन्दिर बनाते हैं #kalki pic.twitter.com/CblkTIa26a

— Paramendra Kumar Bhagat (@paramendra) February 20, 2025

@paramendrakumarbhagat चलो कल्कि मन्दिर बनाते हैं #kalki ♬ original sound Paramendra Kumar Bhagat

 

The Perspective of Kalkiism Research Center

Introduction to the Kathmandu-Based Think Tank

The Kalkiism Research Center, headquartered in Kathmandu, Nepal, is a pioneering economic think tank dedicated to exploring radical and transformative economic models. Comprised of a team of 50 top economists, sociologists, and financial analysts, the center aims to develop policy frameworks that challenge traditional economic structures and propose innovative solutions to contemporary global challenges.

The center operates with the core belief that economic systems must evolve in response to technological advancements, shifting social needs, and environmental imperatives. While traditional models of banking and finance have long been centered around capital accumulation, interest-based lending, and private sector dominance, the Kalkiism Research Center argues for a completely new paradigm: a 100% cashless economy where the government owns and operates the entire banking infrastructure, eliminating interest rates and rethinking the allocation of financial resources.

Their Economic Concepts and Proposal for a 100% Cashless Economy

The Kalkiism Research Center's proposal for a 100% cashless economy is rooted in the notion that money, as it currently exists, is an inefficient medium for value exchange and resource allocation. Their economic framework envisions an economy where all financial transactions are conducted digitally, eliminating the need for physical currency. This transition, according to the center, would lead to greater transparency, efficiency, and economic stability.

A key aspect of their model is the idea that banking should be a public utility rather than a profit-driven sector. In their proposed system, all banking operations are managed by the government, ensuring equitable access to financial services, eliminating financial speculation, and redirecting economic surpluses toward social welfare and development programs.

One of the center’s most controversial yet ambitious policies is the abolition of interest rates. They argue that interest-based lending creates systemic inequalities by allowing those with existing wealth to accumulate more wealth through passive income, while those in need of financial support are burdened with debt. Instead, they propose a credit allocation system based on economic necessity and productivity rather than profitability.

Additionally, the center advocates for direct government funding of essential services such as education, healthcare, and legal support. By eliminating interest payments and banking profits, the government would have greater control over the national economy and could allocate resources more efficiently, ensuring high-quality public services without the need for increased taxation or national debt.

Overview of the Four Proposed Key Pillars

The Kalkiism Research Center’s vision for a 100% cashless economy is built upon four fundamental pillars:

1. 100% Cashless Economy

The first and most essential pillar is the complete elimination of physical cash. The center argues that cash transactions are inefficient, prone to corruption, and difficult to track. A fully digital economy would allow for seamless financial transactions, enhance security, and eliminate the risks associated with cash handling, such as counterfeiting and theft.

Under this model, every financial transaction—whether between individuals, businesses, or government entities—would be conducted through a centralized digital payment system managed by the government. This would allow for real-time tracking of economic activity, greater accountability, and more accurate economic forecasting.

2. Government-Owned Banking System

The second pillar of the proposal is the nationalization of banking services. The Kalkiism Research Center contends that private banks prioritize profit over economic stability, often engaging in risky financial speculation that leads to economic crises. By transferring the control of banking operations to the government, the center believes that financial stability can be ensured.

Under this system, private financial institutions would be phased out, and all banking services—including deposits, loans, and credit allocation—would be managed by a centralized government body. The goal is to ensure that financial resources are distributed equitably and that economic growth is driven by productivity rather than speculative investment.

3. Zero Interest Rate Policy

Perhaps the most radical aspect of the center’s proposal is the complete elimination of interest rates. They argue that interest-based lending disproportionately benefits the wealthy while trapping the lower economic classes in cycles of debt. Instead of interest-bearing loans, the government would allocate credit based on necessity, strategic economic priorities, and productivity.

Under this policy, businesses and individuals seeking loans would be assessed based on their economic contributions and potential rather than their ability to generate interest payments. This system would encourage entrepreneurship and innovation while reducing financial exploitation.

4. Direct Provision of Public Services

The final pillar of the proposal emphasizes the government's role in directly funding and managing essential public services. According to the Kalkiism Research Center, the elimination of interest payments and banking profits would free up significant financial resources, which could then be redirected toward public welfare programs.

This model envisions a world where education, healthcare, and legal services are fully funded by the government, eliminating the need for out-of-pocket expenses and ensuring universal access to high-quality services. By controlling financial resources at the national level, the government could allocate funds where they are most needed, leading to a more equitable society.

Challenges and Criticism

While the Kalkiism Research Center’s proposal is visionary, it is not without challenges and criticisms. Critics argue that:

• A fully digital economy raises concerns about financial surveillance and privacy. With every transaction tracked, governments could potentially misuse financial data for political control.

• Eliminating private banking could lead to inefficiencies in credit allocation. Without competition, state-controlled banking could become bureaucratic and slow-moving.

• A zero-interest economy could discourage investment. Investors rely on interest and returns to justify financial risks; without these incentives, capital formation may decline.

• Technology and cybersecurity risks could destabilize the economy. A completely digital financial system is vulnerable to cyberattacks, technical failures, and hacking.

Despite these concerns, the Kalkiism Research Center maintains that the benefits of a fully cashless, state-controlled economy far outweigh the drawbacks. They argue that with proper regulations, technological safeguards, and economic planning, these risks can be mitigated.

Conclusion: A Vision for the Future

The Kalkiism Research Center’s proposal represents a bold reimagining of economic structures, challenging the dominance of private banking, interest-based finance, and cash dependency. While the transition to a 100% cashless economy with state-controlled banking and zero-interest policies would be unprecedented, the think tank believes it is a necessary step toward achieving financial equity and economic stability.

As nations increasingly adopt digital payment systems and explore central bank digital currencies (CBDCs), the ideas put forth by the Kalkiism Research Center may become more relevant in global economic discussions. Whether or not a country will take the final leap toward a fully cashless society remains to be seen, but the conversation surrounding these radical economic proposals is gaining momentum.

The fundamental question remains: Is the world ready for an economy without cash, private banks, or interest rates? If the Kalkiism Research Center’s vision is any indication, the future of finance could look vastly different from the systems we know today.