Think of the things that could be accomplished if you could eliminate debt service as a line item in your budget! The money deposited in the public bank would be safe and would serve the local community. You could use the public bank to refinance existing debt at zero or near zero percent interest. You could lower tax rates! This idea has such appeal that currently there are initiatives in 20 states to start public banks.
Get your money out before the next crisis by Rudy Avizius
I f you are a public official with a fiduciary responsibility to protect public funds and one of these large banks fails and you lose the public money, think of the consequences that will arise once the public becomes aware that you did not heed the warnings that Cyprus provided. Think of the consequences that will arise when the public becomes aware that you did not consider alternatives to the big vulnerable banks. It is time to bring home the money from Wall Street where it is at risk. If there is a derivative crash, try meeting your payroll with stock equity (in a failed bank). The impact of not meeting a payroll will be both immediate and forceful. It is vital to get that money out of Wall Street BEFORE the next meltdown.
To those public officials who are truly interested
in serving their communities, this is your moment. This is your time to step up
to the plate. Be bold, be innovative, and empower your communities. You owe
this to your fellow citizens, your children and your future. Visit this website to
learn more about the possibilities that public banking offers, to learn how to
get started, and where to find help in implementation. You are not alone of you
wish to make this happen.
If you are an individual saver who wants to protect
your money, you need to move
your money out of the big banks because that is where it is most
vulnerable. Move your money into local community banks or Credit Unions. This
will help your local banks as well as your community by keeping the money
local. It is also important to MOVE YOUR DEBT to these local banks as well. The
way bank accounting works, a deposit is actually considered a liability to the
bank, while a loan is an asset on its accounting ledger. (I know this sounds
convoluted, but this is the way it is). By moving your debt to the local banks,
you create assets for them as well as helping your local community. While there
are no guarantees that a smaller bank could survive the crash of one or more of
the bigger banks, very few of the small banks have gambled with the
super-priority derivatives. This is huge advantage that at provides insulation
from the large banks.
So,
consider yourself warned, money is not safe in the big banks.
The MF Global losses, the Cyprus confiscations, the Sentinel case, the FDIC/BOE
Joint Paper, the plans in the European Union, Canada, New Zealand, and Spain to
raid private accounts, and finally the information in this article should be raising
all sorts of red flags. HOW MANY WARNINGS DO YOU NEED? Personal accounts, as
well as any school, municipal, county, and state funds that are deposited in any
of the big banks are not safe. The plans for confiscation have already been
developed, they have been approved, they are awaiting the next crisis.
Ask your public official in charge of finance where
they keep YOUR taxpayer money!
Ask them if they have researched the public banking
option! Do not accept no for an answer, ask them why. If they say that you do
not understand these things, tell them to explain it to you.
After all, this is your money that you worked so
hard for, so don't let the big gamblers from Wall Street use YOUR personal or
taxpayer money to cover THEIR losses. These big bankers are money addicts, they
have no appreciation of how much work went into making that money. They do not
care about you or your money, all they care about is their addiction. Don't let
public officials continue to put your taxpayer money at risk with these
gamblers, just because this is how it has been done in the past.
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