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Should Public Banks be encouraged in the USA?

Are Public Banks a good idea?

  • YES

    Votes: 5 55.6%

  • NO

    Votes: 4 44.4%

  • I don't really understand big banking.

    Votes: 0 0.0%

  • I don't care and don't think it affects me.

    Votes: 0 0.0%
  • Total voters
    9
  • Poll closed .
DaveFagan

DaveFagan

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OpEdNews - Article: The Linchpin Tipping Point to Reverse Centuries of Top Down, 1% Power and Privatization?

The Linchpin Tipping Point to Reverse Centuries of Top Down, 1% Power and Privatization?

"A -public bank is not for the public- it's created to serve in the public interest-- but is a bank for bankers, not the public-- no front offices, no advertising, no big staffs.There's only one state with a public bank-- North Dakota-- and it is the state that has done better than every other state in terms of making budget and low unemployment.
Public banks serve governments-- cities, counties, municipalities, states and in other parts of the world, whole countries. They serve them by making interest-free loans to them and by earning far greater interest on money they have. And they have a lot of money-- government employee pension funds, rainy day funds" which ordinarily earn a tiny amount compared to what they would earn if a bank was using them to earn interest. "

Are Public Banks a good idea?

Do USA Citizens understand their banks?

Could banks be running our Gov't?
 
Absolutely.
Public banks are a great thing and could solve many situations in this country.
 
We enjoy our Bank of North Dakota, but it was born of particular circumstances stemming from left-wing populism in the early part of the previous century, which sought to product the farmer from railroad and other corporate interests. It would be a hard sell elsewhere unless you have that populist leftism deeply ingrained (and we do, despite our overwhelming conservative disposition).

Furthermore, "There's only one state with a public bank-- North Dakota-- and it is the state that has done better than every other state in terms of making budget and low unemployment."
-The public bank was credited for avoiding the pitfalls of the Banking crisis, particularly with the housing market. It certainly helped stave off the recession in North Dakota, but consider two things. Firstly, the State bank has less impact on the budget than does our ideological tendencies of tight domestic spending. Secondly, our low unemployment can be pointed in some respects to the banking and housing crisis not hitting this state in the same manner (we do have a housing crisis of another sort now), however, it is forgetting the boom that we are experiencing that is largely separate from the State Bank's reach.

Edit: Protect, not product the farmer. Spelling mistakes throw out understanding, eh?
 
Last edited:
Fiddytree said:
We enjoy our Bank of North Dakota, but it was born of particular circumstances stemming from left-wing populism in the early part of the previous century, which sought to product the farmer from railroad and other corporate interests. It would be a hard sell elsewhere unless you have that populist leftism deeply ingrained (and we do, despite our overwhelming conservative disposition).

Furthermore, "There's only one state with a public bank-- North Dakota-- and it is the state that has done better than every other state in terms of making budget and low unemployment."
-The public bank was credited for avoiding the pitfalls of the Banking crisis, particularly with the housing market. It certainly helped stave off the recession in North Dakota, but consider two things. Firstly, the State bank has less impact on the budget than does our ideological tendencies of tight domestic spending. Secondly, our low unemployment can be pointed in some respects to the banking and housing crisis not hitting this state in the same manner (we do have a housing crisis of another sort now), however, it is forgetting the boom that we are experiencing that is largely separate from the State Bank's reach.

Edit: Protect, not product the farmer. Spelling mistakes throw out understanding, eh?
Click to expand...

"circumstances stemming from left-wing populism in the early part of the previous century, which sought to protect the farmer from railroad and other corporate interests."
And could those other "corporate interests" include private banks? I certainly believe we need protection from Private Corporate Banks, and instead we bailed them out.
 
DaveFagan said:
"circumstances stemming from left-wing populism in the early part of the previous century, which sought to protect the farmer from railroad and other corporate interests."
And could those other "corporate interests" include private banks? I certainly believe we need protection from Private Corporate Banks, and instead we bailed them out.
Click to expand...

Certainly. It involved all sorts of interests that were seen as kicking in the farmer or other folks being taken advantage of.

What I am saying, however, is that we, North Dakotans had an unusual amount of left-wing populism at that time, in comparison with the rest of the country and for our state's history before and since the NPL. It was unusually spirited, as we elected more such socialists than anyone in the country. I do not think the rest of the country has that impulse.
 
DaveFagan said:
OpEdNews - Article: The Linchpin Tipping Point to Reverse Centuries of Top Down, 1% Power and Privatization?

The Linchpin Tipping Point to Reverse Centuries of Top Down, 1% Power and Privatization?

"A -public bank is not for the public- it's created to serve in the public interest-- but is a bank for bankers, not the public-- no front offices, no advertising, no big staffs.There's only one state with a public bank-- North Dakota-- and it is the state that has done better than every other state in terms of making budget and low unemployment.
Public banks serve governments-- cities, counties, municipalities, states and in other parts of the world, whole countries. They serve them by making interest-free loans to them and by earning far greater interest on money they have. And they have a lot of money-- government employee pension funds, rainy day funds" which ordinarily earn a tiny amount compared to what they would earn if a bank was using them to earn interest. "

Are Public Banks a good idea?

Do USA Citizens understand their banks?

Could banks be running our Gov't?
Click to expand...


Why not? What we have has crashed our economy.
 
You mean a national bank instead of a private institution that can print money out of thin air and that is loosely under the supervision of an inept Congress?

Yeah sure. National banks are better.
 
Rainman05 said:
You mean a national bank instead of a private institution that can print money out of thin air and that is loosely under the supervision of an inept Congress?

Yeah sure. National banks are better.
Click to expand...

Actually, I think the Federal Reserve would have had to file bankruptcy, along with the banks that were bailed out, if they had not printed all that paper. I think they were caught in the same trap. I still think Iceland did the right thing, but it is a much smaller economy. What really sticks in my craw in this matter is that the crooked bankers are/were not prosecuted. Huge salaries and bonuses continue. Business as usual. It is my opinion that if the whole thing had crashed, a cleansing would have occurred and a better situation would have evolved. With some great difficulty, of course.
 
We already have public banks.

Goldman Sachs, Morgan Stanley, Bank of America, etc.
 
Voltaire X said:
We already have public banks.

Goldman Sachs, Morgan Stanley, Bank of America, etc.
Click to expand...


Damn shame you couldn't find time to read the linked article.
 
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