Banking On Our Country

Frank Sanitate’s Opinion piece in the Santa Barbara News-Press was met with strong, public support, including some elected officials. Public Bank advocates are ready to help Santa Barbara County take a deeper look at the Public Banking Solution. Officials are eager to find a realistic way to deal with their budget short-fall. Others are curious about what kind of non-taxed-based revenue a public bank could generate that might be used to pay for crucial public services, and things like affordable housing so that their teachers, law enforcement officers, fire fighters and other key employees can live closer to where they work.

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How the Quakers Put the PUBLIC in Banking

William PennDuring the third week of June, hundreds of southwestern Quakers met for their annual gathering at Ghost Ranch in northern New Mexico. The theme was “About Money: a call to Integrity, Community and Stewardship”. While there, I spoke about Quakers’ history with public banking, and about the explosion in public banking efforts happening across our land. The gentle folk left their week of retreat fired up and ready to advocate for public banking in their own towns, cities and states.

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The Meaning of the Murphy Win

PBI Chair Walt McRee and PBI’s NJ State Coordinator Joan Bartl attended a victory party for NJ gubernatorial candidate Phil Murphy in Princeton, NJ last week, celebrating the beginning of a new era of mainstream acceptance of public banking in American public policy.  What does it mean for the movement?

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When Deutsche Bank Wobbles, Wall Street Gets Shaky Knees

A report issued by the International Monetary Fund (IMF) called out Deutsche Bank as “the most important net contributor to systemic risks.”

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Oakland Public Bank Feasibility Study Delayed

Some observers perceive foot-dragging and opposition from City Hall.

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Resisting the New Feudalism & The Economics of Happiness

Check out this week's radio show.

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Cities and States Prefer Public Banks to Wall Street

Alarmed by the corruption and greed of Wall Street, many US cities and states are studying the feasibility of establishing public banks.

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It's Our Money: Can History Please Not Repeat Itself?

The earliest days of private banking cartels in America occurred before we were the United States. The pattern of private capital determining government policy is centuries old...

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Oakland Holds Community Forum on Public Banking

The idea of creating a public bank in Oakland is under serious consideration, a move that could help the city's cannabis industry access financial services and free up more funds for lending and infrastructure development.

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How to Cut Infrastructure Costs in Half

Money is not fixed and scarce. It is "elastic": it is created when loans are made and extinguished when they are paid off. Private banks now create nearly 97 percent of the money supply in this way. To get much-needed new money into local economies, rather than borrowing from private investors who cannot create the money they lend, governments should borrow from banks, which create money in the form of deposits when they make loans. And, to get that money interest-free, a government should borrow from its own bank, which returns the interest to the government.

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