Public Banking

[Six117]

Snip ~
"The Public Banking Institute has been working since 2011 to return control of money and credit to states and communities and create a network of publicly-owned federal, state and municipal banks that would establish a safe, low-cost alternative to the current exploitative financial system controlled by Wall Street. Our Board and Advisory Board members include noted economists, bankers, professors, authors, and organizational leaders. Our letter outlines four immediate actions needed to rescue the Main Street economy following the coronavirus shutdowns and ensuing financial collapse and shows how they can be done without imposing additional taxes or driving up consumer prices."

How to use public banks to help us in this crisis.

https://www.publicbankinginstitute.org/2020/04/08/pbis-open-letter-to-congress-a-critical-care-bailout-for-main-street-in-the-face-of-covid-19/

https://www.publicbankinginstitute.org/2020/04/22/pbi-experts-how-state-officials-can-save-main-street-in-the-face-of-covid-19-with-three-urgent-actions/

Thoughts?

[Volaris]

1. The US Treasury should be running it's own credit union.

Move ten tax dollars from every citizen n company for 2 years as starting capital, put at least one branch in every county in the nation (post office space if need be), and start making simple interest mortgages to people starting at ten percent.

You wanna put buying power back into the hands of We The People, AND kickstart the hell out of the economy, that seems like a pretty good way to do it.

[ret5hd]

2. Post Office Banking

https://en.m.wikipedia.org/wiki/United_States_Postal_Savings_System

[Dave in VA]

3. Use the USPS!

Sen. Warren has been proposing this for years:

http://www.campaignforpostalbanking.org/news/why-we-need-a-bank-at-the-post-office/

Very interesting read.

[hunter]

4. A Post Office bank would be a good start.

There are Post Offices everywhere and most transactions could be accomplished by ATMs and cell phone apps.

I suspect the hits to our economy caused by climate change and pandemics are going to come at an accelerating pace.

If we don't want this nation to become some sort of dystopian hell where the poor starve and the wealthy are burned out of their mansions then we will have to implement some sort of universal basic income and health care.

FDR saved capitalism from itself, and the very worst sorts of nationalism and imperialism were put down. Our next leader will have to deal with a similar crisis, hopefully without a World War.