End Pay Per Click as We Know It

This may be a stupid idea, but I've stopped worrying about being stupid, because many of such ideas worked and were very successful.
I propose Google would allow us to bid any amount we choose each month. Based on the amount we bid, Google will use an algorithm to decide the positioning of our ads, and how often they appear. We could even bid on the amount we want to spend per day, and change that amount throughout the month.

We would not be charged when people clicked on our ads, or by the number of impressions, but we would receive the same reports about ad performance. The way to do better than other advertisers would be simply to spend more. This new system would make what we are buying be a little less tangible, but it would eliminate click fraud completely.

Google would use algorithms based on overall performance to determine costs, so cheaters could click away, but it would not punish the good paying advertisers.

I could be spending a lot more on PPC right now, but I have diverted my $$$ to places where the cost is fixed.

The reason I think my idea would work is advertisers would still be competing against each other, but they would be assured of zero click fraud.

BTW, this would give all the Text Link advertisers some competition as well. ;)