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Moving Beyond Corporate Banking: Public Banking as Reflected in the Work of Ellen Brown

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(http://www.webofdebt.com/)

According to the Public Banking Institute website (link below), public banking is

    • A viable solution to the present economic crises in the United States.

    • Counter-cyclical, meaning they are capable of reducing the negative impact of recessions. The reason: they can make money available for local governments and businesses precisely when private banks decrease lending.

    • Potentially available to any-sized government or community able to meet the requirements for setting up a bank.

    • Owned by the people of a state or community.

    • Economically sustainable, because they operate transparently according to applicable banking regulations

    • Able to offset pressures for tax increases with returned credit income to the community.

    • Ready sources of affordable credit for local governments, eliminating the need for large "rainy day" funds.

    • Required to promote the public interest, as defined in their charters.

    • Constitutional, as ruled by the U.S. Supreme Court

Meanwhile, the Institute states that public banks

  • Are not operated by politicians;

  • Are run by professional bankers.

  • Don't provide big dollars for bank executives; rather, their employees are salaried public servants (paid by the state, with a transparent pay structure) who would likely not earn bonuses, commissions or fees for generating loans.

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Burl is an avid writer and publishes to OpEd News. He is author of "Sophia's Web: A Passionate Call to Heal Our Wounded Nature." As of this writing, Burl is planning to self-publish the book. Alongside his wife, Burl co-hosts an on line radio (more...)
 

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Can the people truly regain power?  This is t... by Burl Hall on Sunday, Aug 18, 2013 at 4:28:02 PM
Envision This! interviewed Ellen Brown. Ellen is i... by Burl Hall on Sunday, Aug 18, 2013 at 4:30:52 PM
Public banks are more likely to identify the win-w... by Michael Dewey on Sunday, Aug 18, 2013 at 7:23:20 PM
The right to distribute money belongs to the peopl... by Textynn N on Tuesday, Aug 20, 2013 at 12:56:28 AM