Bank of North Dakota: Reluctant Role Model

Rob Garver • AmericanBanker.com • April 2011

“States have to look out for themselves,” says Ellen Brown, one of the founders of the Public Banking Institute, a nonprofit think tank created just last year to advance the cause of public banking.

She finds it hard to understand why states willingly surrender to “Wall Street” the opportunity to make use of their funds. Rather than letting bankers in far-away cities choose when and where to deploy that money, Brown asks, why not make sure it is put to work lending to local businesses, capitalizing local banks, and creating local jobs? “That’s what the Bank of North Dakota does, and every state could have that same arrangement,” she says.

Read entire article here.

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One Response

  1. this article from what appears to be a private banking trade journal will be typical of what will be seen in the corporate media propaganda machine to invalidate the proposals of establishing state banks. lets use this article and others as template to create factual point by point counter arguments. With what is happening in wisconsin , ohio , michigan, and other states now is the moment to get this message out. I am printing out material I have found on this site and distributing it to protesters at the april 4 WE ARE ONE protest in denver colorado. People are awakening to the class warfare on working people and are receptive to understanding how the reality how money is made.

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