Banks that support communities

Banks that support communities
Marketplace • November 18, 2010

Gardner wants his state government to start up a kind of mini-Federal Reserve, a state-owned bank that can act as a rich uncle to retail banks that want to lend to worthy borrowers.

Gardner: It’s a state-run bank, but it’s a banker’s bank. They have very little interface with the actual public. So, they provide the needs of community banks, and they set their policies to get the most money into the community.

The one example of a state-run bank is here: It’s called the Bank of North Dakota. Bremer’s CEO sees it as a partner and calls this pint-sized Fed a “tremendous resource.” Many public officials are fans as well. The Bank of North Dakota gives its profits not to charity but to the state. Over the last decade, $300 million went to North Dakota’s treasury. That’s one reason that Oregon and other states are looking at setting up state banks of their own.

Read the entire article here.

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One Response

  1. Your an idiot Gardner! What, you want more fiat money in a mini kind of way? Does this mean there will be only mini-types of corruption, wars, and failed economies?

    You must be a banker since you ultimately want banks to be able to continue on acting as the LENDER when they are actually the DEBTOR. Banks aren’t aloud by law to loan their own assets or assets of their depositors which means they can’t and don’t lend anything. They never have anything at risk in their loan trick and all agreements or rather none of them are binding because they are all unilateral and not bilateral contracts (bank never signs it’s fake loan agreements/mortgages). What banks do is steal everyone’s promissory note (is money) and deposits it into the “borrower’s” account or banks account and then withdraws it and lends it back to the ignorant and violated customer who actually created the fiat money by his/her’s very own signature and nothing more (UCC). You idiot…

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