The public bank concept is gaining ground on the state level, attracting proponents across the political spectrum.

Read more here –

10 Responses

  1. this is great – hopefully at least one of those states will do it.

  2. Interesting article Ellen, especially by noting the difference between a “banker’s bank” model and the “commercial bank” model.

    If we’ve learned anything from the slow motion healthcare debacle, there’s no advantage to pre-negotiating… a state bank proponent should start by advocating for a state bank that provides direct commercial banking services– and then compromise with community banks by agreeing to a North Dakota-style “banker’s bank”.

    If a state did want to go into commercial banking, they could do worse than looking to (if not hiring) USAA on how to cost-effectively manage bank operations. USAA has long been called the best bank in America and it provides banking, insurance and other financial services to its military and veteran members around the world with only a single branch (well, according to wiki, they’re adding a couple more). :o)

  3. It’s great to see the pros and cons are being freely discussed in America at least. Here in the UK the entire subject is a virtual taboo. Witness the statement made by Darius Guppy in his article in the UK’s Daily Telegraph newspaper; first he said “Let me repeat: supposedly ‘sovereign’ Governments – representative of their people, at least in theory – do not control the single most important mechanism when it comes to their economies: namely the production and distribution of money. That role has been diverted in large measure to the banks which manufacture money out of nothing and charge interest on that conjured-up money. In fact, beyond a pathetic interest rate cut here and a token cut in VAT rates there our politicians have zero real power when it comes to directing their country’s economy.”

    and he followed it up with “Just as incredibly, this fact – the key to understanding how the international financial system actually operates and why the world is in such a mess – is discussed virtually nowhere in mainstream circles: not in The Financial Times, not in The Economist, not in the broadsheets, not in Parliament, not in the City and not in the economics departments of most Universities.”

    It’s simply not discussed here. The significance of the article is not in its revelations but that it got printed at all. Should one blame the legendary British Establishment? Are there dark hands suppressing all discussion of these essentials? I suspect myself it has a lot to do with the increasing irrelevance and lack of influence anywhere of British politicians and so too all their followers and hangers-on.
    Whatever – I bring it to your attentions.


    • Yes, I must say I was very surprised that bthias article got published. Darius Guppy certainly tells it like it is though.

      It makes me wonder whether it was a cynical Establishment attempt at smear, as Mr Guppy is a convicted fraudster though!

      However the article is excellent!

  4. Yes, it’s good stuff. I’ve not heard of any follow-up commentary yet, I dount there’ll be any. It’s a chink, though, it’s a hole in the dyke.


  5. “if the American people ever allow private banksters to control and issue their currency, the people and their children will one day wake up homeless on the continent their forefathers conquered” – Thomas Jefferson”….
    the power to issue and control the currency/money, must be given back to the people to which it rightly belongs” – Thomas Jefferson….
    “private central banksters controlling the peoples money are more dangerous than standing armies” – Thomas Jefferson….
    its past time to END THE FED and big government for good..Ron Paul’s bill HR 1207 to audit the fed,will do nothing,as the federal reserve lawyers will cook the books and make everything look just dandy..a waste of fact, I would bet the fed lawyers are fudging the books right now ..the fed must be ABOLISHED,and it can be done w/o nary a bill to get rid of it..with this new state banking money system,the fed will die on its own accord..state run banks with “honest” money ARE the solution..a new interest free paper currency issued in each of the 50 states possibly backed by silver,
    NO GOLD!..the banksters own nearly 96% of the worlds gold that they stole from the U.S. and the rest of the world with money they made from thin air on computers and printing presses! if we went back to a gold backed currency/money,the banksters would very quickly take back control of the money system!..soooo NO GOLD BACKED MONEY!..we had our money backed by gold in 1929 and the 1930’s..did it stop the great depression? NO!
    [ although gold would still retain a value 16-20 times greater than silver per the constitution]
    each individual state would make their own $1,$5,$10,$20,$50,and $100 paper notes backed by silver[ex: $20 Texas silver note..under that “payable to the bearer on demand $20 in silver [when presented at any state bank,you would receive either $20 worth of 90% silver coin, 20-.999 silver dollars,4 – 5 oz. .999 silver bars,or 2 -10 oz, .999 silver bars],and all 50 state paper notes would be accepted in every state and abroad..having 50 different notes for the 50 sovereign states would make it extremely difficult for the banksters to take back control of the U.S. money system again.. a dollar would be 31.1 grams of silver[ONE OUNCE] as per the constitution..change for the new paper notes would be pre-1965 90% silver again[only 90% silver with 10% copper is hard enough to take the day to day pounding/ movement/exchanging and hold up],and 100% copper again for pennies..a state run honest money/banking system with interest free loans run by the people.. for the people.. there would be only a small administrative fee/ cost, to borrow money to pay state bank employees and mgrs. etc.
    EX: you[or a small business starting up lets say ]were to borrow $205,000 for a $200,000 house/loan,you would pay back $205,000 over the next 5,10,or 15 years[ditto credit cards],instead of the present parasitic fractional reserve banking system where you would buy a $200,000 house[or a $200,000 loan] and because of compounding interest, you would pay the private parasitic fractional reserve banksters nearly $1,000,000 over 30 or 40 or even 50 years for money made from NOTHING!!..thin air..infinite free money..THIS IS ABSOLUTE,UNADULTERATED INSANITY..
    paying the banksters for money made from just blows you away when you think about it..its hard to wrap your mind around.. just like 9-11
    the private non-federal reserve is simply the greatest scam,fraud, and deception in the history of the none
    and living paycheck to paycheck?
    this isn’t living..this is [debt] slavery and many don’t even realize they are lifetime debt slaves of the banksters!
    it just doesn’t have to be this way!
    state controlled banks with “honest” money, will bring back manufacturing and real jobs!
    a nation that is prosperous MUST produce goods folks!
    3rd world countries don’t produce goods!
    the U.S.A.. IS in fact a 3rd world country now!
    a petition page will soon be up at WEB OF DEBT.COM
    where you can sign it and DEMAND your state
    implement state run banks! [unless you live in N.Dakota that already has state banks]
    imagine paying $500-$1,000 for a new car again..
    of course a new state bank silver dollar will have the purchasing power of a 1913 dollar..but we can start all over again as a nation,
    and bring ALL the troops home from abroad and have them protect OUR BORDERS! with 50 new sovereign state banks this country can be turned around in days
    not months or years, but DAYS!

  6. Really interesting information, tanks for the link Ellen.

  7. Nice post, Thanks for your nice post..This is really an informative blog post.

  8. he U.S.A.. IS in fact a 3rd world country now!
    a petition page will soon be up at WEB OF DEBT.COM
    where you can sign it and DEMAND your state

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