TalkingStickTV - Ellen Brown - Public Banks and Why We Need Them

Ellen Brown author of "The Web of Debt: The Shocking Truth About Our Money System and How We Can Break Free" talking about the public banking system and the Bank of North Dakota October 26, 2011 at Kan Hall, University of Washington, Seattle, WA.

See Part II of this event at http://www.youtube.com/watch?v=IT7Bo3...

• Category

  News & Politics

[1100tech]

the only thing she isn't is blonde ! other wise she has all the right traits to be one ! without saving and building a "TANGIBLE" asset based banking system you can't have a real economy ! that's why we're in the situation we have now

[PoliticalAnimal1959]

I attended UW and am familiar with Kane Hall. The State Bank concept is a step in the right direction. The problem, however, is Jewry. Jewry will not allow for such a movement to take hold. Note that North Dakota is the ONLY state with a state bank, which means that Jew lobbying continues to ensure that legislative bodies take no constructive action towards establishing state banks across this nation. Jews will permit North Dakota to have one, because ND is so small in population.

[lovegarbage]

The problem with a publically owned bank is you have to be sure that the people who have the real power are not the banker cartel AND we are not creating more incentive to fund a remote elite. I guess you will need real democracy; goverment by the people for the people. I still don't see a credible solution. Mabye this is the best solution given the historical reality of human nature and behaviour.

[Geof B]

at around 12:15 she says the bank crate the principal but not the interest . i dont think thats right . banks just print the principal . thats not the case when the chinese lend money . they earned that money and own it . but when banks lend money they float a loan on a bank bond and then lend it out as much as they can up to legal limits .

one answer is to defauls certain loans , banksters loans .

[mrniceguy7113]

They can make margin calls.

[WilhelmDrake]

The Fed can't shrink the money supply. Most of the money supply is bank credit.

[goodnaturearts]

this is a long talk. Good story, but you can get to the gist at 27" Someone needs to make this into a whiteboard video.

[cscoxk]

It all makes sense and it will work.

An important message is that when money is created we should not have an interest coupon attached at the time of creation. Once it has been spent and then saved it can have interest because the interest is really rent on the savings. This also means there should be no interest on the interest because interest itself is not a saving - it is a deferral of expenditure - which is operationally different from a saving.

[MacksPower75]

"loans for consumption are bad."That's not necessarily true.If loans are made for consumption,in other words demand side loans,that money buys a good such as,for example, an iphone, that money gets used as a capital base to make the next generation of iphone and hire workers to create it. The iphone workers buy things from the original borrowers who borrowed for consumptive items and then they repay the loan, if everything is working right.Demand side economics would work better.

[serd3fied]

ALL Students with Loans should see this!!