Public Banks are...                     ...a Better Solution!
"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." --Henry Ford, Ford Motor Co.
"Well, we're starting to understand and this is the beginning of the revolution...the banking revolution." --Ellen Brown, Occupy LA Teach-In, author of Web of Debt, Founder of the Public Banking Institute.
The Example of the 100-year-old State-Owned Bank of North Dakota
Public banks are...
- Viable solutions to the present economic crises in the US & world.
- Counter-cyclical, meaning they are capable of reducing the negative impact of recessions, because they can make money available for local governments and businesses precisely when private banks decrease lending.
- Potentially available to any-sized government or community able to meet the requirements for setting up a bank.
- Owned by the people of a state or community.
- Economically sustainable, because they operate transparently according to applicable banking regulations.
- Able to offset pressures for tax increases with returned credit income to the community.
- Ready sources of affordable credit for local governments, eliminating the need for large "rainy day" funds.
- Required to promote the public interest, as defined in their charters.
- Run by professional bankers, not politicians.
- Administered by salaried public servants, who do not receive huge bonuses, or commissions or fees for generating loans.
- Constitutional, as ruled by the U.S. Supreme Court.
- Not speculative ventures that maximize profits in the short term, without regard to the long-term interests of the public.
Why Public Banking?
Our privatized monetary and banking system serves the 0.01% by design. It's run by private interests who manipulate the system for their own benefit and it provides a systemic means of transferring wealth from Main Street to Wall Street. In order to achieve economic and political justice, We the People must reclaim the "Money Power" with publicly-owned banks.
Let's learn how we get our monetary and banking systems to serve the public interest, and not just the 0.01%.