The Bank of North Dakota started a century ago with the simple goal of service to citizen victims of the Wall Street monopoly. It now inspires the hopes of citizens nationwide, as they struggle to wrest their financial freedom from the same financial masters. Ellen talks with Dr. Rozanne Enerson Junker, who got her doctorate studying how this upstart institution took on the big banks and turned a challenged economy into a financial powerhouse of service to its owners, the people of North Dakota. Rozanne is featured in a documentary called “The Bank of North Dakota,” linked below. Walt McRee then talks with Tom Tresser about a new collaborative book called “Chicago is Not Broke – Funding the City We Deserve” — there’s more money laying around than most citizens know. And Matt Stannard discusses What Wall Street Costs America with a focus on Detroit and Harrison, NJ – yet more victims of the global banking cartels that keep America under the thumb of debt servitude. Listen to the archive here.
In Part II of Rozanne’s interview, played on June 8th’s show, we continue our conversation about the founding factors and functional dimensions of America’s only state-owned public bank. Ellen also discusses block-chain technology with co-host Walt McRee, while this week’s What Wall Street Costs America examines the impact of predatory banking costs on the city of Detroit — Matt Stannard talks with Tom Stevens of “Detroiters Resisting Emergency Management.” Archived here.
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Filed under: Audio, Ellen Brown Articles/Commentary | Tagged: Bank of North Dakota, public banking |
WEB OF DEBT BLOG 
Dr. Anthony Horvath, author of” CAPITALlessISM … published recently. http://www.capitallessism.com. PEOPLE’S BANK AND PEOPLE’S ECONOMY WORK INDEED….
Another Example of an Efficient ‘’PEOPLE’S BANK’’ giant creation … is in Quebec, Canada. In the early 1900-s a national economic awareness of the French population (of only 7 million) came to the conclusion that to develop its economic potential … a concerted united national effort must be done. Under the Catholic Church’s spiritual guidance, a new national economy spirit was born. First a national awareness, then a cultural awareness, followed by an economic awareness of the people has occurred.
As a result, seventy-five years ago in church basements people gathered to discuss economic issues, such as financing enterprises, home financing, etc. The result was the astonishing concept of forming credit unions. With the church’s encouragement, in a short seventy-six years Quebec has built up several economic giants: Quebec’s CAISSE POPULAIRE DESJARDINS, a financial cooperative movement, valued at over $220 billion (among the world largest banking institutions) and the CAISSE DE DEPOT ET PLACEMENT, that has created a pool of 176.2 billion dollars (2012 data), with which they invested in 4,000 promising enterprises. To these financial giants we have to add the Bank National and the Laurentian Bank, as well as the investment capital Fond de Solidarité. To this we have to add a NATIONAL ‘’PEOPLE’S’’ ECONOMY CONCEPT WITH ITS VAST NETWORK, CONSISTING OF COOPERATIVE MOVEMENTS WITH ITS RAMIFICATIONS IN MANY SECTORS OF THE ECONOMY. Quebec has the most elaborate cooperative system in the world, which led the national economy in many areas. It started many giant companies that led its economy and which also help Quebec maintain its independence in several key sectors, such as hydroelectricity, liquor sales, agriculture, etc.
THESE ASTOUNDING RESULTS WERE ACHIEVED TOTALLY DEMOCRATICALLY … so, it proves that a UNITED ECONOMIC COMMUNITY WITH A NATIONAL COOPERATIVE PUBLIC BANK is definitely possible. thank you for your comments
Reblogged this on OUR GREATER DESTINY and commented:
Wisely taking back financial freedom.
Hello Ellen, thanks for the link to the BND video.
https://ellenbrown.com/2016/06/02/on-its-our-money-rozanne-junker-on-the-bank-of-north-dakota/ ;
As I have understood your descriptions of the BND over the last years, it seems that this video omitted several key points. I did not hear them clearly mention that the interest the BND received on their deposits/bonds was paid directly to the state general tax fund. And second, and more important, that the local and state government agencies deposited their tax receipts (property, sales, other local taxes and fees) into the BND, rather than some large out of state commercial/investment bank. So many state and city governments have been swindled into investing in derivative schemes with obscure traps for the unwary. But if local taxes from all levels of government agencies were required to recycle their tax receipts into the state bank, modeled on the BND, at least they would not be swindled. And the state bank would invest in strictly local/statewide benefits and lending.
Finally found the link to the conversation you had with Rozanne Junker where she describes how the transfer & lending & liquidity issues are handled between the BND, the local commercial banks, and the agencies which deposit their receipts into the BND. But I hope you will speak about this again in a more structured way.
http://prn.fm/its-our-money-with-ellen-brown-the-little-bank-that-does-part-2-06-08-16/ ;
I supported your campaign for California State Treasurer, and I think you would make a splendid vice-president. So I submitted your name to the Green Party in answer to their question: who did I want for the vice-presidential candidate of the Green Party. http://www.jill2016.com/vpideas ;
and Why Not.
There is a lot of rhetorical fluff in this video, people talking about how they feel about themselves. The numbers and structures that make the Bank of North Dakota different were carefully avoided throughout the entire video.
How is creating debt “good” for North Dakota? That was never explained. How does BND prevent debt from consuming the economy? Never explained.
The greed and corruption of private banks is very well known. How is BND better? The answer is not in this video.
Obviously what the BND has done has not consumed the economy, but the opposite. You seem to be assuming that they are creating debt. Maybe they aren’t. If you owe it to yourself, it is not debt.
[…] Brown recommends this documentary that chronicles the Bank of North Dakota’s fascinating history and reviews its key role in […]