Some good news if you’re a Floridian and Farid Khavari becomes the next governor.

Some good news if you’re a Floridian and Farid Khavari becomes the next governor. • June 25, 2010

If more or the majority of states end up following suit creating state run banks, it will spell the end of the Federal Reserve, IMF, EU and the economic disaster they have created.

Miami Fla – Noted economist Farid Khavari, a Democratic [now Independent] candidate for Florida governor, has gained national acclaim since announcing last July his plan to create a state-owned bank in Florida. Following Khavari’s move, gubernatorial candidates in Oregon and Illinois have made state-owned banks part of their policies and other states are looking closely at the idea of state-owned banks. The Virginia legislature has a pending resolution to establish a committee to consider a proposed state bank.

While other states seem to focus on interest savings for state and local governments, they are vague about benefits for ordinary citizens. In contrast, Khavari’s approach is to dedicate the bank to the service of all Floridians, while the state will win both in interest cost reductions and in profit from the proposed bank.

“The Bank of the State of Florida will operate using the same rules that apply to all banks. The difference is, our bank will be created to directly benefit all Floridians, not only the state. We have a very specific plan. The bank will pay 6% for CDs. Under fractional reserve rules, for every $100 deposited, we can create $900 in new money by making loans. In our case, we will concentrate first on 2% fixed rate, 15-year mortgages, both new and refinances,” Khavari said.

Read the entire article here.

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4 Responses

  1. Hi Ellen,I think capitalism is a proven fail idea.I like Mr.Khavari idea of serving all Floridians.I understand his starting with 6% CDs and 2% fix mort. rates. If I was starting a bank,it would be “nonprofit”. I would give 0% loans at overhead costs for interest.When an idea is a proven failure,you have to go in the opposite direction.Replace greed with sharing.Have we learn anything from what we have done to the earth chasing that “dollar”? Mr.Khavari is going in the right direction, but is it enough to save the “earth”? Thanks

  2. Can The States can issue State banking privileges under the 10th Amendment and order the Federal Reserve to issue funding based off intrinsic value of natural resources after sensing control by eminent domain bill taking back control of all Federal lands resources for state benefit like Utah is doing , see this ; , the States would assay , and recapitalize the state budgets and then working together with other states draft creative needs programs that put people back to work , like alternative energies , sustainable living modular’s using materials that would be engineered from our dirt lands ????
    We have abundant amounts of Just plan old dirt so we need to figure out a way to use it in a thick enough wall that insulation is achieved . This will create a low CO2 usage in energy use .
    We have got to come up with alternatives to keep these kinds of things from ever having a chance to happen .
    Florida Gulf oil spill: Plans to evacuate Tampa Bay area are in place
    Raining Oil, Mysterious Crop Ailments on the Gulf Coast and the Death of the Republic.
    this is just awful …

  3. we need to start building these , , near oceans and desalination plants , and grow Bio Algae for fuel and Pulp from the Algae can be used in feed additives because its a high protein .
    Gulf of Mexico Intended to be an Algae Farm? Startling Indeed , this is a very interesting read …….

  4. The federal government will continue use the big trillion dollar credit card..for now, but I fear it wont be long the US economy collapses under the weight of its own debt.
    will state owned banks make it in time?

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