The Public Bank Solution to Government Debt and Budget Shortfalls

[marmar]

[rickford66]

1. How about some background about this.

On the surface this seems interesting but: Who is this lady? What exactly is she proposing? etc ... If it's state banks, doesn't North Dakota already have a state bank?

[freedom fighter jh]

3. Ellen Brown

http://ellenbrown.com

[Enthusiast]

5. She mentioned the North Dakota state banks.

She is proposing a system that would not be subject to the whims of a market like we witnessed in 2008. North Dakota banks escaped relatively unscathed. Same with Canadian banks.

[rickford66]

8. I learned this after watching

It would be nice for some kind of message up front to what a 30 minute clip is about. I did watch and it was informative. She didn't mention if there were any legal impediments. Since I already knew about ND state bank I didn't know why other states didn't follow suit. I guess it's mainly the banking lobby.

[Enthusiast]

9. I think we should open a bank.

[99th_Monkey]

10. Yes, North Dakota has a state bank, but that's only ONE state

So there are stilll 49 states who seriously need a state bank,
because they work for the people, not the 1% greed-heads.

[Half-Century Man]

2. What if a state or the nation set up a public bank

and allowed the public to buy in for retirement money. Roll your 401k into a public trust backing the bank.
If you retirement investment paid a steady 12% most people would go for it.

[drynberg]

4. About 10 audio interruptions in the form of HP ads in the first 3 minutes, then I walked away...does

Not make sense...none. Is anyone else getting these audio ads in the midst of a clip from DU?

[rickford66]

14. I get a ot of Verizon ads

[Enthusiast]

6. K&R! This post should have hundreds of recommendations!

[canoeist52]

7. Very important concept. By-pass the big interest rates of private panking.

I'm not sure I understand all the details of this public banking system but I believe the gist of it is that the government lends money to itself (us) at no interest. Big bank loan interest is the #1 reason that government projects cost as much as they do.

[mother earth]

11. K & R for Ellen Brown & A big TY to marmar! Here is EB's website and some pertinent info:

http://www.webofdebt.com/

EXPLODING THE MYTHS ABOUT MONEY

Our money system is not what we have been led to believe. The creation of money has been "privatized," or taken over by private money lenders. Thomas Jefferson called them “bold and bankrupt adventurers just pretending to have money.” Except for coins, all of our money is now created as loans advanced by private banking institutions — including the privately-owned Federal Reserve. Banks create the principal but not the interest to service their loans. To find the interest, new loans must continually be taken out, expanding the money supply, inflating prices — and robbing you of the value of your money.

Not only is virtually the entire money supply created privately by banks, but a mere handful of very big banks is responsible for a massive investment scheme known as "derivatives," which now tallies in at hundreds of trillions of dollars. The banking system has been contrived so that these big banks always get bailed out by the taxpayers from their risky ventures, but the scheme has reached its mathematical limits. There isn't enough money in the entire global economy to bail out the banks from a massive derivatives default today.

Web of Debt unravels the deceptions in our money scheme and presents a crystal clear picture of the financial abyss towards which we are heading. Then it explores a workable alternative, one that was tested in colonial America and is grounded in the best of American economic thought, including the writings of Benjamin Franklin, Thomas Jefferson and Abraham Lincoln. If you care about financial security, your own or the nation's, you should read this book.

I haven't watched the vid yet, but have posted some articles written by EB in the past and am a huge fan. I encourage any of you who aren't familiar with her to explore her website and do a little research on your own. Why we haven't embraced the idea of nationalizing our banks is because we are knee deep in the ongoing BS and carnage.

I highly recommend & Kick this op!!!

[DeSwiss]

12. K&R

[mother earth]

13. Yes, the vampire banks have been at it and continue to suck us dry.

[calikid]

15. One of the important steps in fixing the mess we're in.