An Idea Whose Time Has Come: A State Bank for California
Bernard Marszalek • beyondchron.org • November 10, 2010
California, the eighth richest world economy, faces a future of economic horror on all fronts, public and private. Remedies on offer from conservatives and liberals fly by each other and stir a dust storm of controversy that obscures the issues before dissipating without any resolution. We seem stuck contemplating austerity for those who have little to give up and compete destitution for those who already gave up what they had. And with the new Congress, our Plan B – federal rescue – evaporated.
This seemingly hopeless situation calls for an imaginative solution – the Green Party’s state bank proposal. That idea comes from Ellen Brown’s Web of Debt which describes the North Dakota State Bank, a financial institution dating back to 1919.
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