The Linchpin Tipping Point to Reverse Centuries of Top Down, 1% Power and Privatization? PUBLIC BANKING!

Rob Kall • • December 6, 2012

Tonight I went to a local meeting of the Public Banking Institute with Ellen Brown as the featured speaker. First, I joined the local organizers of the meeting, Brown and the director of the institute, Mark Armstrong.

The lecture and the conversations before and after really helped me connect some dots that tie together single payer health care, Naomi Klein’s Shock doctrine, tea partiers, bankrupt cities, global bankers like the Rothschilds, the class war and the war of the top-down powers against the bottom up revolution.

First, some notes from Ellen Brown’s lecture:

A -public bank is not for the public- it’s created to serve in the public interest– but is a bank for bankers, not the public– no front offices, no advertising, no big staffs.

There’s only one state with a public bank– North Dakota– and it is the state that has done better than every other state in terms of making budget and low unemployment.

Public banks serve governments– cities, counties, municipalities, states and in other parts of the world, whole countries. They serve them by making interest-free loans to them and by earning far greater interest on money they have. And they have a lot of money– government employee pension funds, rainy day funds” which ordinarily earn a tiny amount compared to what they would earn if a bank was using them to earn interest.

Mike Krauss, chairman of the Pennsylvania Public Banking project told the group, “Our thrust is to decentralize credit and decentralize wealth holding– a decentralization of wealth will create a decentralization of political power.”

Read the entire article here.

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One Response

  1. The (public) bank of North Dakota was created in direct opposition to the federal reserve system of private banks to keep profits in that state instead of being siphoned off by wallstreet. It serves the state and it’s people well and has for 90 years by means of it’s legally binding mission statement that concludes that all profits must be used to fund new valid loans or be returned to the people of the state as tax refunds ….as I have read. If my interpretation is wrong, I’d appreciate knowing how. This fine idea must be repeated accross the coutnry to take this type of power and profit away from private hands to reclaim our nation for all Americans IMO.
    The other larger problem is that of sovereign money creation ….by our government, as per the Constitution; art. 1, sec. 8, par. 6 ; dealing with counterfeiting , which the federal reserve has done for 100 years, and must be held accountable for.
    The way my own ideas for banking would work would be for those new Us dollars, created with NO DEBT, would enter circulation in a variety of ways as needed and validated by government, and watched over by the states with their powers of nullification to keep over-printing from being a problem, to stop inflation/deflation.
    When a bank needed to have money for valid loans, it would not generate the money on the spot as now, but instead apply to the central bank of the US for it, and make profits off the interest and fees alone. The principal would be returned to the general fund for the usual paying of bills, services, programs. End of story; just needs fleshing out IMO.

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