Reviving the local economy with PUBLICLY-OWNED banks.

Given the current economic meltdown, the current financial infrastructure, a very good solution to the banking problem can be to go with the publicly-owned banks, as noted in this article:


www.webofdebt.com...


Imo, it's the path of least resistance to reviving the economy nationwide.


Shwarzenegger, the Governator of California, ought to mull over the idea of starting up a publicly-owned Bank of California -- if he does that, then he can totally solve the budget crisis that California is facing.


He could name the new California-based bank: " The California Collateral Damage Bank", eh?


Or this: "The California Raw Deal Bank."

reply to post by Historical-Mozart


Just what we need government run banks. Like that won't turn disasterous. Plus the states don't have any money so what are they going to use to start a bank. Don't you need some cash?

Originally posted by StinkyFeet
reply to post by Historical-Mozart

 

Just what we need government run banks. Like that won't turn disasterous. Plus the states don't have any money so what are they going to use to start a bank. Don't you need some cash?

Yea, I get your point about gov't run enterprises. I favor a far-better economic model, but, given the current financial structure as we know it and, given the short time that we have between now and 2012, the state-based banking model can work.


But it would have to have two things for it to work:

1) A new monetary unit, like US Treasury-issued dollars to replace the Fed Res Notes and,

2) It should be operated, not on a state-based level, but a county-based level, where the new banking model can have the greatest positive effect on the local economy. Fix the local economy, you can then fix the state economy, then the national economy. True recovery starts at the local level.


And a newly-chartered bank does not need to raise any existing cash -- it can simply create new cash out of thin air, just like how the Fed does it.


But, like I say, I favor a far-better banking model that would work extremely well, empower people and revive the entire economy with astounding speed, but there probably would be too much institutional resistance to this kind of new banking model, so I don't know if I want to even bother putting it out there.


So, given the entire current banking structure, a locally-owned banking model, based on the county level and based on new dollars being issued by the US Treasury, this kind of new banking model can work to revive the entire nation within the current financial structure as we know it.

reply to post by Historical-Mozart


Just hang in there a little bit longer , the new currency and banking standards are just around the corner, the crush and collapse and solution to it all isnt that far away.

Ellen Brown, the author of that blog, is really good at making difficult economic terms easy to understand. Thanks for pointing out this article. I agree, each state should create its own bank, especially given that we have a model in the Bank of North Dakota. I think the more localized of an economy we have the safer we will be in times of economic turmoil. What else can I say, I'm moving to North Dakota!

reply to post by StinkyFeet

They've had a state bank in North Dakota for 100 years StinkyFeet. Read the article...

[edit on 15-10-2009 by washingtonsghost]

Originally posted by StinkyFeet

Just what we need government run banks. Like that won't turn disasterous. Plus the states don't have any money so what are they going to use to start a bank. Don't you need some cash?

No, you don't.

They don't have any money either. It's all just data stored on computers. That's all money is!

Do you have a computer? Then you can create a bank.


Credit as a public utility:

www.webofdebt.com...


Here's what a bank is: An institution which retains data on the financial accounts of customers.

Is it difficult to "retain data"? No, all you need is a record-keeping device. In the old days, it was kept in books. Today, computers.

There is no "money" in the world. Only paper receipts for a deposit of a material good that doesn't exist any more. Our money is not based on gold, or any commodity. It is just a representation of something of value. Neither real, nor tangible, nor legitimate in any concrete way. They hold us in bondage with shackles that are illusory.

Your government, your banks all deceive you when they say they have "money." They have nothing but data stored on computers.

As long as you believe that this means something, you will be a victim of their abuse.


[edit on 15-10-2009 by 30_seconds]

reply to post by 30_seconds


But money isn't just data in a computer, it's also a means of barter and trade.

Reform the banking system and start creating local banks, yes, but people also need to start trading using something that actually has value (Hemp). Instead of worthless paper.

Originally posted by Historical-Mozart

Given the current economic meltdown, the current financial infrastructure, a very good solution to the banking problem can be to go with the publicly-owned banks, as noted in this article:


www.webofdebt.com...


Imo, it's the path of least resistance to reviving the economy nationwide.


Shwarzenegger, the Governator of California, ought to mull over the idea of starting up a publicly-owned Bank of California -- if he does that, then he can totally solve the budget crisis that California is facing.


He could name the new California-based bank: " The California Collateral Damage Bank", eh?

Or this: "The California Raw Deal Bank."

Its actually already happening in the UK.

news.bbc.co.uk...

www.birmingham.gov.uk... %2FWrapper%2FWrapper&rendermode=live

[edit on 16-10-2009 by Jamesy_boy]