Saving Our Economy With Public Banking

Carl Gibson • www.huffingtonpost.com • May 20, 2013

Imagine if your only choice for food came from genetically-modified crops. You might suffer regular health problems, be at a higher risk for numerous crippling diseases, and have no choice but to accept that as a fact of life. But what if, one day, you came across a farmer’s market where you could buy locally-produced, organically-grown, healthy fruits and vegetables at a fraction of the cost of GMO food. Wouldn’t you switch immediately and never go back? Your body would heal and you’d feel great.

Similarly, most U.S. states, with the exception of North Dakota (we’ll get there in a minute) have no choice but to depend on big Wall Street banks for the money necessary to build critical infrastructure, most of which comes with obscene interest rates and get-rich-quick schemes like capital appreciation loans. These are concocted by predatory bankers intending to bleed municipalities and counties dry, from Jefferson County, Ala. to Napa Valley, Calif. But public banking can be the antidote that will free us from our dependency on Wall Street and put monetary power in the people’s hands. In short, our economy would heal and we’d all feel great.

Read the entire article here.

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