Gwen Hallsmith: Lobbying for Public Banking

[DeSwiss]

GRITtv·Published on Apr 15, 2014

The Laura Flanders show streams from www.grittv.org. Public banking has been proven to be better for the economy and is the norm in several countries, yet there is only one state-owned public bank in the United States. Why is this? Gwen Hallsmith of the Public Banking Institute joins us to discuss the fight for public banking in Vermont and the United States.

- This is the ''STAKE'' that will kill the bloodsucking Dracul, also known as Wall Street.

[Grey]

1. Smart idea.....nt

[geretogo]

2. I think it's North Dakota that has a State Bank . Have heard all positives .

[tclambert]

3. Let the Post Office provide banking services.

The banks would hate it. The Post Office could make a little cheese and maybe balance its books. Wall Street would hate it. And Republicans would hate it.

So it must be a good idea.

[Agony]

4. Great idea ... a county-owned bank!

http://publicbankinginstitute.org/county-banks

"
If you ever needed justification for exerting a semblance of local control over how credit is issued in the economy of your city, county, or state, this may just be it. Any impartial observer of this summer’s most recent bank scandals knows that Wall Street does not have your interests in mind. Apparently, neither does Congress.

Antidote to the Wall Street casino

This issue of PBI’s monthly newsletter is meant to showcase what some of us are working on at the county level. Public banking is not a difficult concept – it’s just regular depository banking, but with the owner being the people, as represented by city, county and state governments. There are numerous implications, however, which primarily involve governance. And, yes, local governance may be messy, but it is far superior to the existing corporate-controlled governance coming out of D.C., which, instead of issuing debt-free money, has handed to banks the monopolistic power over money creation. At least citizens, using a public bank, have the power to make affordable loans for the benefit of their own city, county, or state.
"

Even closer than a State owned bank... Capitalize it with the County Public Employee Pension Fund.