The Essence of Money, a Medieval Tale (video)

A comprehensive & innovative proposal for a new system of sustainable economics
Project by Paul Grignon

“The Essence of Money” is a short animation illustrating the principle that underlies the idea of self-issued credit. This is much the same idea that underlies most alternative money systems and which is, in truth, the basis upon which conventional banking actually works despite its pretense to be “lending” money.

Watch the video and other related links here.

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Update on Candidates Running on a Platform of a State Bank

Bill Bradbury (D) for governor in Oregon.

James Stivers (R), running for District 2 Senate Seat in Idaho.

Laura Wells (Green) running for governor in California.

Farid Khavari (D) running for Governor in Florida. UPDATE: Khavari is now an Independent.

Gaelen Brown running for Vermont State Senate.

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The Mysterious CAFRs: How Stagnant Pools of Government Money Could Help Save the Economy

The Mysterious CAFRs: How Stagnant Pools of Government Money Could Help Save the Economy
By Ellen Brown
May 20, 2010

For over a decade, accountant Walter Burien has been trying to rouse the public over what he contends is a massive conspiracy and cover-up, involving trillions of dollars squirreled away in funds maintained at every level of government. His numbers may be disputed, but these funds definitely exist, as evidenced by the Comprehensive Annual Financial Reports (CAFRs) required of every government agency. If they don’t represent a concerted government conspiracy, what are they for? And how can they be harnessed more efficiently to help allay the financial crises of state and local governments?

Read the entire article here.

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Socialism in North Dakota

Socialism in North Dakota
by John Case
May 20, 2010

The Bank of North Dakota is the only state-owned bank in America. Despite that, or because of it, the bank earned a record profit last year even as its private-sector corollaries lost billions.

Some who have difficulty even absorbing news of a profitable socialist enterprise point to North Dakota’s well-insulated economy, which is heavy on agricultural staples and light on housing speculation, as the source of its success.

But this has not stopped out-of-state politicos from making pilgrimages to Bismarck for counsel and advice. Could opening state-owned banks across America get us out of the financial crisis? The Bank of North Dakota, with its $4 billion under management, has avoided the credit freeze and crisis by creating its own credit, and in doing so, is leading the nation in establishing state economic sovereignty as well. Could decentralizing large sectors of finance provide better insurance – a better hedge, if one may use that term – for the people, against the “too big to fail” phenomenon?

Read the entire article here.

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Author Ellen Brown Details How to Have A State Own Bank Like N. Dakota on Alex Jones TV

Author Ellen Brown Details How to Have A State Own Bank Like N. Dakota on Alex Jones TV
May 20, 2010

Watch the video here.

More States May Create Public Banks

More States May Create Public Banks
By Ellen Brown
May 13, 2010

By 2011, only one state will have escaped the credit crunch that is pushing other states toward insolvency: North Dakota. North Dakota is also the only state that owns its own bank. The state has its own credit machine, making it independent of the Wall Street banking crisis that has infected the rest of the country.

Now, several states are either studying the prospects of a state-owned bank or are considering legislation to make one possible.

Read the entire article here.

State-owned bank drawing interest

State-owned bank drawing interest
North Dakota’s socialist experiment has new appeal
Dale Wetzel
Associated Press
February 17, 2010

BISMARCK, N.D. – It has no automatic tellers or drive-up windows, doesn’t issue credit cards, and tends only a few thousand checking and savings accounts. Its only location is a glass, steamboat-shaped headquarters near the Missouri River, where the business moved from its original 1919 home in a former auto assembly plant.

The Bank of North Dakota – the nation’s only state-owned bank – might seem to be a relic. It was the brainchild of a failed flax farmer and one-time Socialist Party organizer during World War I.

But now officials in other states are wondering if it is helping North Dakota sail through the national recession.

Read the entire article here.