Nevada State worker launches budget deficit plan, issues challenge to economists: A state-owned bank! • January 11, 2011

Carl Kuhl, a state Parole and Probation employee of six years, has created a plan that he claims will eliminate Nevada’s budget deficit within two years.

In a news release issued on Tuesday, Kuhl said his plan not only will reduce the budget deficit but also help repair Nevada’s economy at the same time. It is a pretty big claim, he admits, coming from an Accounting Assistant I, an entry level position.

Kuhl states that the only solution to the deficit is to create a state owned bank that earns a minimum of 24 percent interest on any amount. The state of North Dakota is the only state in America with a state owned bank.

The Bank of North Dakota is 92 years old, so the idea is tried and true, he says. North Dakota is the only state without any deficit issues, and has over a billion dollars in reserves. The solution is to spend money funding local business owners throughout the state. Kuhl stated that he is the only person that can earn that kind of revenue for the State of Nevada.

Read the entire article here.

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3 Responses

  1. sounds like a Great deal for NV , and a dumb one for the other states that would agree to such a idea .

  2. it sounds like a shell game that is designed to only be a benefit to NV

  3. Why do the administrators of this site put junk like this on here? Here is a claim that the state can start a bank and make money by lending at 24% per year. How does this nonsense forward the cause of Public Banking?. It should be ignored and not posted. Similarly all the poppycock about lending 9X deposits.

    One sure path to irrelevancy is giving credence to every irrational proposal.

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