Washington State Joins the Movement for Public Banking

Ellen Brown • Yes! • January 24, 2011

Bills were introduced on January 18 in both the House and Senate of the Washington State Legislature that add Washington to the growing number of states now actively moving to create public banking facilities.

The bills, House Bill 1320 and Senate Bill 5238, propose creation of a Washington Investment Trust (WIT) to “promote agriculture, education, community development, economic development, housing, and industry” by using “the resources of the people of Washington State within the state.”

Currently, all the state’s funds are deposited with Bank of America. HB 1320 proposes that, in the future, “all state funds be deposited in the Washington Investment Trust and be guaranteed by the state and used to promote the common good and public benefit of all the people and their businesses within [the] state.”

The legislation is similar to that now being studied or proposed in states including Illinois, Virginia, Hawaii, Massachusetts, Maryland, Florida, Michigan, Oregon, California and others.

Read entire article here.

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2 Responses

  1. We the People need to control our Money / Monetary Policy so we can re state the Vital Needs projects that can generate our durable wealth again and stop this collapse of the states , we the people need to renegotiate our Trade Policy too along with our Monetary Policy because we have been the victim of a Unfair trade Policy all these 18 years and its time for Change here !!!!!

    Here is the admission and evidence of unfair trade policy and our Officials did NOTING about it , WHY ??? http://www.elliottwave.com/freeupdates/archives/2011/01/21/A-Secure-Pension–Good-Enough-for-Government-Work-ers.aspx

    Geithner warns Beijing on currency policies & Ross Perots Giant Sucking Sound warned them all 18 years ago this would happen

    Geithner warns Beijing on currency policies ;

    The High Cost of the China-WTO Deal: Administration’s own analysis suggests spiraling deficits, job losses; By Robert E. Scott; February 1, 2000:
    It has also taken Mexico\’s Jobs away over the years too. Europe\’s Jobs too. This is all because of a Simple Currency manipulation that does nothing to promote quality in our products.
    Remember what Ross Perot said , we would Hear a Giant Sucking Sound with this Trade Policy , he was right . http://www.thenation.com/article/new-giant-sucking-sound .

  2. Should We the People be asking What is the STATE of the UNION REALLY ?
    Federal Reserve Leveraged Like Crazy, One Interest Rate Rise From Bankruptcy

    Obama has announced he will seek 1 Billion dollars in donation for his reelection campaign . Can we say Conflict of Interest here in this Article or what ?? http://seekingalpha.com/instablog/489997-the-polycapitalist/127714-wall-st-obama-s-1-billion-presidential-re-election-fundraising-goal

    Accounting Tweak Could Save the FED From Losses . http://www.cnbc.com/id/41198789

    Could the Federal Reserve become Insolvent ?

    What If States File Chapter 11

    We the People deserve to be In control of our Money / Monetary Policy , we could do much better at directing OUR NEEDS than This !!!!!


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