Bankers are well aware of the value of a human life's time. Governments with central banking authorities are unfairly pledging the slave labor of their governed people as collateral on their underlying debt. Through registration of birth, the total time of human life and the subsequent value of its goods and labor are pledged by the parents of citizens to their government. That government then borrows against its value with a central bank. Central Banks trade this debt collateral as bond securities for profit. The value of that labor is accounted by revenue services which are set up to manage and track debt to central banks. Social insurance is an accounting number to public debt incurred by governments to its individual citizens and offers up social insurance as a benefit of privilege to participants which is fraudulently purported to be its purpose. This is why taxes, public banking/credit accounts, and employment require this upfront. If it were truly social insurance it would be neutral to any of these transactions.
We can overcome the failings of fiat currency systems by using human time as the underlying commodity for a monetary system. This is the basis of chrono-currency. As mentioned prior, every organism possesses time, therefore every able bodied person has time they are capable of devoting to another person. It is this act of devotion that becomes the way currency enters the system. Unlike central banking and government the value of an individuals time is used at their discretion. Every participant in the system may promise to devote their time, in the amount of their choosing, to any other person participating in the system. The ledgering of this promise becomes currency. This function is analogous to how a federal reserve note (thought to be the same as a dollar bill) is a promise of the federal reserve bank to provide the face value in dollars to the holder of the note. These notes are shared among federal reserve systems participants independent of the person who requested the credit that brought them into circulation.
Allowing participants in chrono-currency systems to control their own value and debt against it is the fundamental separation between it and central banking. The participants become their own bankers disseminating their own value among participants in exchange for goods or services. This is the promise of basic income, as no one is ever without money. Furthermore, they are always obligated to contribute goods and service of value to cover their debt. This means all goods and services are relative to their value in time to other human lives and not the environment or scarce commodities to whom they cannot accurately be compared. The debt of the total system is never expanded upon except by the conscious volition of its participants and covered on a 1:1 basis. This ensures no need for cyclical consumption to cover debt that exists as a result of mathematical fraudulence.