Why Public State Banks Are Better for the Economy Than Private Central Banks

Authored or posted by | Updated on | Published on August 1, 2017
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Picture of the public bank of North Dakota

Thanks to Steve for emailing me the link to the videos and information below.

The following videos have some interesting and important information about public banking and the benefits of having state-owned banks. If you are interested in a better alternative to private central banking, the following videos should be of great interest to you. The videos explain why public state banks are better for the economy than private central banks, such as the Federal Reserve System.

A public state bank system is not the best answer to creating a thriving economy free of debt, but it is much better than the federal reserve system. As described on BankingOnColorado.org:

Public banks are run by local or state governments, without shareholders, with a mandate to support local community banks and fund public goods like schools, city services and small businesses. Wall Street hates public banks because they demonstrate that local governments and communities can manage their money and finance their services without making massive interest payments to big banks.

Currently, there’s only one public bank in the United States, in North Dakota, but there are movements in over 20 states to create more. This story is about movements in four Western states where, because of persistent organizing, meetings, conversations, and a belief that democracy must be materialized, people like you and me have made impressive strides in the campaign to bring public banks to the United States.

Public Banking Panel 1: Ellen Brown, Gwendolyn Hallsmith & Mike Krauss

Public Banking Panel 2: Financing for Local Needs

Public Banking Panel 3: Responding to the Challenge

Nomi Prins on Public Banking

The Public Bank Solution to Government Debt and Budget Shortfalls

For more information about public banking, visit BankingOnColorado.org.

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Category: Economy & Finance

Comments (2)

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  1. Anabel says:

    The Crown govt/state owned banks should not be called “public” owned .
    For if the govt( the state) own the bank the same problems arise .
    The govt is but a Crown corporation .

    Imagine a conscious money-less kindness based society where love and giving is the norm.
    That is the only solution to the imbalances, greed and striving for happiness in wealth acquisition.
    First our state has to change and from the higher state comes higher and more intelligent monetary systems.

  2. Anabel says:

    So can someone explain why it makes a difference if the Crown owns the banks through arms length ” the state” its govt as in both private central banking and public the same entities control the creation and supply of money????