The Public Banking Institute is often asked to explain the concept of public banking in a nutshell. The challenge is to do it in a way that reaches a broad demographic. People learning about public banking have very different backgrounds, and banking isn’t what most people talk about over dinner with friends. At its core, however, the idea is simple — a concept even a child can understand. We’ve written and produced this video — Public Banking Made Simple — to communicate the core concept in simple terms, showing how public banks can give towns and states more resources to apply to their community needs.
Please view and share!
The Story of Stuff project put out this short video a few years ago that is just as urgent today. The Story of Solutions explores how we need to reorient ourselves to an entirely new goal if we want to create a just economy. We need to change the point of the “game.”
Public Banking is exactly this kind of “game changing solution.” A Public Bank gives people more power, lessens the wealth gap, and brings democracy to our money. It is time to build the solutions … solutions that will change the entire game.
Irrepressible host of Redacted Tonight, Lee Camp, reached out to former PBI chair Walt McRee to explain how Public Banking is a way we the people can divorce the future of our financial security from the recklessness of Wall Street fraud:
“You might have noticed that the wealth in this country continues to get sucked to the top ... the Big Banks are bigger than ever before, and they’re using your money to gamble on the stock market. Meanwhile, Bitcoin has shot through the roof. For all these reasons, I wanted to get an expert of banks and money in here to explain things.”
Sarah Westhall, host of the national radio show "Business Game Changers," recently interviewed PBI Chair Ellen Brown to discuss the shape of our economy.
“Every 20 or 30 years we have changed the monetary system. We can and we will change it again. That’s what the Federal Reserve did in 2008 ... they started just lending free money to the banks, which they hadn’t done before, and called it Quantitative Easing. ...
September 25, Friends of Public Bank of Oakland organized a public forum to hear Wolfram Morales of the German Sparkasse (East German Savings Bank Association) explain how Public Banking works in his country to fund renewable energy development. The East Bay Times as well as Oakland North covered the event and connected it to how Public Banks here could do the same thing in the US that Sparkasse do in Germany: offer low-interest rates to companies providing solar and wind resources, driving development.Read more
Last week, Doug McKenty, Mendocino host of The Shift, spoke for an hour with Ellen Brown and Walt McRee about money, debt slavery, the speculative economy and the public banking solution. McKenty describes we live in an economy controlled by central bankers who create money by lending a debt-based fiat currency and charging interest. Ellen and Walt explain how that interest finds its way into the speculative economy for the benefit of the very rich, and how a Public Bank can keep that interest in our communities for the benefit of the people on the street.
The public banking successes in New Jersey, Seattle, Santa Fe, California, Los Angeles, Philadelphia, and Vermont did not just spring out of the blue. They are the result of many weeks, months and years of hard work, and set-backs faced by the many volunteers working to establish public banks across our land. Most are motivated to do this work to create a more just economy. A public bank serves this purpose by saving public funds and returning a profit that can be used to benefit the public good, rather than private interests as now is the case. Read this document which outlines how public banks serve the public good.
Watch as Phil Murphy explains his plan for what a State Bank of New Jersey can do for the people of his state. This candidate knows what he’s talking about, having had a career in finance with Goldman Sachs.
This August 10 in Los Angeles, with several hundred Californians in attendance, State Treasurer John Chiang's Cannabis Banking Working Group heard the case for public banking as a tool of economic justice and a potential solution to marijuana business's inability to use private banking services.
Revolution LA Public Bank Activists spoke from the heart about the challenges California faces and how a Public Bank could improve the fate of many. Speakers included Vermont public banking advocate Gwen Hallsmith, and Commonomics USA's Matt Stannard, who summarized that organization's comprehensive California Public Cannabis Bank proposal and Matt Stannard’s interview with the LA Times.
The Cannabis Banking Working Group site offers links to the panel discussions, which are fascinating!Read more
The next Oakland City Council meeting is set for Tuesday, September 18th. On the agenda is authorizing the feasibility study on establishing the Public Bank of Oakland. But authorization is only half the battle.Read more