Public banking coming up all over!!!

this'll change everything. jude

PUBLIC BANKING INSTITUTE NEWS: MAY 23, 2019

The Public Banking Act AB 857 has been sent to the floor of the California Assembly for a full vote

California’s Assembly Bill 857, now called the Public Banking Act, sponsored by the California Public Banking Alliance has made it through three committees, including the “notoriously difficult” Assembly Appropriations Committee. It is now up for a full vote on Assembly floor. Despite heavy opposition from Wall Street’s biggest banks, the bill advanced with “unprecedented” support from over 100 major cities, unions, and grassroots organizations. The Chair of the Assembly Appropriations Committee, Assemblywoman Lorena Gonzalez, became the latest co-author to sign onto the bill, saying:
“This measure is long overdue. We need to take the profit out of banking in order to invest in our communities that have been left behind by Wall Street. This approach to public banking allows our local governments to explore forming their own local or regional public banks.”

Joint author Assemblymember Miguel Santiago tweeted, “No one works harder to fight Wall Street and pass the Public Banking Act than this incredible coalition. #AB857 #PublicBanksNow.”

[read more]

Ellen Brown on the BBC on funding the Green New Deal

On the BBC podcast In the Balance hosted by Ed Butler, PBI Chair Ellen Brown recently participated in a debate on whether funding the ambitious Green New Deal introduced by Alexandria Ocasio-Cortez could realistically be done. Ellen took the position that it could — without squeezing the taxpayers, shooting up the federal debt, or inflating prices — using local and federal public banks (including the Federal Reserve).

[listen to the podcast]

In the last two weeks, Ellen has also given two presentations in Zoom webinars covering the same topic, one for the New Economy Coalition and the other for the Economic Policy Institute’s EARN network. The EARN webinar was given jointly with former PBI chair Walt McRee. Slides for that presentation are available here.


Video spotlight: The Real News covers LA’s public bank movement

This special report from The Real News by Mike Prysner just prior to the YesOnB vote includes an excellent interview with PBI Chair Ellen Brown and profiles Public Bank LA members as they make extraordinary efforts to establish a city-owned bank.

[watch the video]

The core "problem" with the banking system in the United States is the institution of the Federal Reserve Bank, itself. This is something that was well known by all of the "Old Left." {prior to 1962}

In 1962, the Institute for Policy Studies received a ten million dollar endowment from the Chase Manhattan Bank. From that point in time we have the phenomenon of the "New Left" - and the studious avoidance of attention directed to the systemic Root of the problem. In other words, Wall Street created a synthetic "Left" that was user-friendly to its interests.

In order for there to be any serious change in the System, the Federal Reserve Bank would have to be nationalized, and the systemic functioning of that institution subsumed into the Treasury Department. All other "reforms" are mere window-dressing.

It is very doubtful that this will ever happen. Bernie Sanders doesn't talk about it, and the sycophants from the CIA like deep throat Robert David Steele have Trump's QAnon followers believing that white hat guy, Donald Trump is going to put it over... And that is strong delusion.

https://www.youtube.com/watch?v=V2iHvVCZfHw

right, mayacaman, but you've ignored the older and even more key issue of compound interest. jude

Compound Interest / Usury - Same difference. It's all an integral part of what is wrong with the Federal Reserve System, the privately owned Joint Stock Cartel that has been managing "our money" ever since 1914.

Most people would choke if they realized that the children of the super-rich, the less than 1%, who have inherited the "right stock" in the "right banks" - the Money Market Banks - collect Quarterly dividends in their Bank accounts off the Interest on the National Debt.

Talk about 'welfare cheaters'! What is getting skimmed at the top, every three months, is enormous, and beyond the awareness or comprehension of most people.

This 'System' actually began, in 1694, in England, with the establishment of the Bank of England. The system is called 'finance capitalism.' Simply put, it means that the Central Bank {a private joint-stock corporation} owns the National Debt.

https://web.archive.org/web/20141021...h-the-fed.html