Public Banking for “We the People” Conference Call

On April 6, 2013, Ellen Brown of the Public Banking Institute joined Rocky Anderson in a thoughtful discussion relating to the 2008 economic crash and what we can do to protect our state and local economies when Wall Street Banks tank. Fortunately, we have an operating model in North Dakota to learn from: A public state bank.

Listen to the recording below to learn how public state banks save taxpayer dollars and help the economy grow.

7 Responses

  1. Well done, Ellen.
    Keep up the good work. More & more people are paying attention.

  2. We need not reinvent banking we need to end debt currency and paying interest on public debt.

  3. If, as I contend, the Fed has already redeemed the debts of the government with the banks by buying the securities from the banks with money created out of thin air, then there is no national debt at the Fed. The current practice of either rolling over the securities or paying periodical interest to the Fed may be illegal, if the debt was already redeemed by the Fed. All the Fed is entitled to is a one-time payment of 6% of the interest on each security as a transaction fee. The Fed has paid the interest on the debt when it bought the securities. So, continuing to pay the Fed periodically the interest (even if it returns all but 6% of the interest) may be illegal. Treasury can only pay on debts that Congress has authorized. The original debt to the banks for deficit spending is authorized. But a second payment of the debt, and to a government entity at that, is not authorized. Some of these debts may go way back, since the national debt has not been paid off since 1835, thereabouts. And budgeting interest on all those securities at the Fed runs to billions of dollars. All that needs to be budgeted is the 6% of the interest transaction fees, and we can presume they have been paid the first time the Fed acquired the securities and Treasury paid it interest, which it returned 94% of while keeping the 6%, so all the subsequent interest payments are illegal.
    The Fed does not issue debt currency in the sense that the public needs repay the Fed for the currency. It creates it out of thin air. It is fiat money. If the public were to pay back the Fed for all the money it created, there would be no money in circulation and the economy would collapse. So, public debt is not a problem. Private debt is.
    The banks create money out of thin air when they lend to private borrowers. The banks create more money this way than the Fed.
    The borrowers must repay the banks, so it is debt currency.

  4. смотреть Создающий заново / Recreator Как компания подростков находит секретную лабораторию. У ребят случайно получается создать собственных клонов. Только копии получились намного умнее, сильнее и вообще лучше своих оригиналов. Герои оказываются в ловушке и теперь им придется спасать свои жизни, и не дать клонам заменить себя в повседневной жизни

  5. […] Public Banking for “We the People” Conference Call […]

  6. […] Public Banking for “We the People” Conference Call […]

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