(Pao Chang) Thanks to Steve for emailing me the link to the videos and information below.
The following videos have some interesting and important information about public banking and the benefits of having state-owned banks. If you are interested in a better alternative to private central banking, the following videos should be of great interest to you. The videos explain why public state banks are better for the economy than private central banks, such as the Federal Reserve System.
by Pao Chang, August 1st, 2017
A public state bank system is not the best answer to creating a thriving economy free of debt, but it is much better than the federal reserve system. As described on BankingOnColorado.org:
Public banks are run by local or state governments, without shareholders, with a mandate to support local community banks and fund public goods like schools, city services and small businesses. Wall Street hates public banks because they demonstrate that local governments and communities can manage their money and finance their services without making massive interest payments to big banks.
Currently, there’s only one public bank in the United States, in North Dakota, but there are movements in over 20 states to create more. This story is about movements in four Western states where, because of persistent organizing, meetings, conversations, and a belief that democracy must be materialized, people like you and me have made impressive strides in the campaign to bring public banks to the United States.
Public Banking Panel 2: Financing for Local Needs
Nomi Prins on Public Banking
The Public Bank Solution to Government Debt and Budget Shortfalls
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