By Pao Chang
The following videos have some interesting and important information about public banking and the benefits of having state-owned banks. If you are interested in a better alternative to private central banking, the following videos should be of great interest to you. The videos explain why public state banks are better for the economy than private central banks, such as the Federal Reserve System.
A public state bank system is not the best answer to creating a thriving economy free of debt, but it is much better than the federal reserve system. As described on BankingOnColorado.org:
Public banks are run by local or state governments, without shareholders, with a mandate to support local community banks and fund public goods like schools, city services and small businesses. Wall Street hates public banks because they demonstrate that local governments and communities can manage their money and finance their services without making massive interest payments to big banks.
Currently, there’s only one public bank in the United States, in North Dakota, but there are movements in over 20 states to create more. This story is about movements in four Western states where, because of persistent organizing, meetings, conversations, and a belief that democracy must be materialized, people like you and me have made impressive strides in the campaign to bring public banks to the United States.
Public Banking Panel 1: Ellen Brown, Gwendolyn Hallsmith & Mike Krauss
Public Banking Panel 2: Financing for Local Needs
Public Banking Panel 3: Responding to the Challenge
Nomi Prins on Public Banking
The Public Bank Solution to Government Debt and Budget Shortfalls
The Event Chronicle Editor Note: I watched a short documentary on the Bank of North Dakota last year via Ellen Brown’s website, Web of Debt. I’m including it below and I recommend you watch this fascinating video and listen to the accompanying audio for more information.
On “It’s Our Money”: Rozanne Junker on the Bank of North Dakota
By Ellen Brown
The Bank of North Dakota started a century ago with the simple goal of service to citizen victims of the Wall Street monopoly. It now inspires the hopes of citizens nationwide, as they struggle to wrest their financial freedom from the same financial masters. Ellen talks with Dr. Rozanne Enerson Junker, who got her doctorate studying how this upstart institution took on the big banks and turned a challenged economy into a financial powerhouse of service to its owners, the people of North Dakota. Rozanne is featured in a documentary called “The Bank of North Dakota,” linked below.
Walt McRee then talks with Tom Tresser about a new collaborative book called “Chicago is Not Broke – Funding the City We Deserve” — there’s more money laying around than most citizens know. And Matt Stannard discusses What Wall Street Costs America with a focus on Detroit and Harrison, NJ – yet more victims of the global banking cartels that keep America under the thumb of debt servitude.
Part 1: It’s Our Money with Ellen Brown — The Little Bank that Could, and Did, and Does
In Part II of Rozanne’s interview, played on June 8th’s show, we continue our conversation about the founding factors and functional dimensions of America’s only state-owned public bank. Ellen also discusses block-chain technology with co-host Walt McRee, while this week’s What Wall Street Costs America examines the impact of predatory banking costs on the city of Detroit — Matt Stannard talks with Tom Stevens of “Detroiters Resisting Emergency Management.”
Part 2: It’s Our Money with Ellen Brown – The Little Bank that Does
This article (Why State Banks Are Better for the Economy Than Central Banks | OmniThought.org) was originally published on OmniThought and syndicated by The Event Chronicle.
The Public Bank Solution: From Austerity to Prosperity by Ellen Brown is Available on Amazon.
More from Ellen Brown:
More from Noms Prins: