Developments for the creation of locally oriented municipal Public Banks are gaining traction in tandem with state Public Bank initiatives. Santa Fe, Oakland and Los Angeles, among other cities, have taken important steps in exploring the feasibility of a local Public Bank owned by their cities and operating in the interest of their communities.
On Friday, September 29th, a gathering of international Public Banking experts met with interested Councilmembers, legislative directors and the Head of the Budget and Finance Committee at Los Angeles City Hall for a very fruitful discussion on how a Bank of Los Angeles can be feasible, profitable and beneficial for the city's residents.Read more
Influential magazine The Nation describes the rise of the Public Banking movement as an excellent example of combining visionary politics with pragmatic action.
“There’s a movement on the rise to weaken the power of corporate banks and replace them with financial institutions that are owned and managed by cities and committed to putting public interest above profit. It’s a movement to create public banks.”
September 27th: City of Santa Fe Public Bank Task Force Members: Bradley Fluetsch, City Finance Department, Darla Brewer, (Governance), Elaine Sullivan (Governance), David Buchholtz (Task Force Chair), Randolph Hibbin, (Legal, Regulations), Bob Mang (Capitalization), Kelly Huddleston (Legal). Wayne Miller and Judy Cormier were absent.
Santa Fe’s all volunteer public bank task force is hard at work gathering key information needed to take the next steps. The public present at these meetings appreciates that the stakes are much higher once it moves beyond the abstract.Read more
New Podcasts: The coming revolution in banking, "crypto-chango," and how to hide public debt from public view
In the latest It's Our Money podcasts, Ellen and Walt cover important ground that sheds light on changes to the world of money that are around the next corner:
Crypto-Chango and Truth in Accounting
- Airing Wednesday Sept 27
Ellen Brown reflects on the true nature of money at the Nexus Conference in Aspen, bringing to a renown body of monetary and financial experts the notion that cryptocurrency systems reflect the reality that money is not a fixed inventory of assets but a fluid and fungible source of mutual credit.Read more
Last Tuesday ,Oakland City Council approved the $100,000 feasibility study for the Public Bank of Oakland, putting that city on track to create its own Public Bank. The city of Berkeley promised $25,000 toward the cost of the study and the city of Richmond and County of Alameda are likely to contribute as well, along with several private donors, making this a multi-city and community investment.Read more
The Public Banking Institute is pleased to announce the appointment of Suzanne O’Keeffe as its new Communications Coordinator – a vibrant new talent for getting the public banking word out and around!
We’re delighted to have Suzanne’s many talents in writing, social media, video production and network communications on our team. PBI is expanding its reach and visibility in all channels of media, and Suzanne brings rich experience in doing just that.Read more
Cimbria Badenhausen –Engagement and Support
The Public Banking Institute is very pleased to announce Cimbria Badenhausen, MBA, ENV SP as our new Engagement Coordinator. Cimbria will be helping PBI expand our support services to the many that contact us.
We are very grateful that for most of 2017, Cimbria has helped behind the scenes to get our newsletter posted, fix wonky things on the website and wrangle our data. Her extensive experience with nurturing personal and organizational growth, and her commitment to all things green is a valuable resource for our organization.Read more
New Public Banking ground was broken on September 6th in Santa Fe, New Mexico. For all those who are trying to follow what is happening with Santa Fe’s Public Bank Task Force, we’ll attempt to provide summaries in this newsletter.
HERE’S WHAT YOU NEED TO KNOW: The Task Force holds public meetings every third week (Wednesdays from 4:30-6:30pm), 500 Market Station, City of Santa Fe. The next meeting is Sept 27th.Read more
From our friends at The Money Project. The amount of Big Money is hard for all of us to understand. Did you know there was also narrow money and broad money? We know about derivative money, but how big is it really? In this case, a picture is worth a thousand words.Read more