Alaska could walk away from Wall Street with a public bank of its own

Ray Southwell • Alaska Dispatch • December 3, 2013

Banks have a great privilege. They create debt/money with a few strokes on a computer keyboard. Then they charge interest on this newly created “money.” It’s called Fractional Reserve Banking. All banks, but one, are privately owned. By law, these private banks have one objective, making profits for their shareholders. It is all about profits for the private banks.

It is a failed system. Booms and busts are created by the improper use of this newly created money. We could change the Federal Reserve Banking system. However, Washington D.C. has lost its way and we are foolish believing things are ever going to improve at the federal level. The cabal of private Wall Street banks run the show and must make profit for the few.

Read the complete article here.

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