Upload

Loading icon Loading...

This video is unavailable.

State Owned Banks: Fixing the Economy by Ellen Hodgson Brown

Sign in to YouTube

Sign in with your Google Account (YouTube, Google+, Gmail, Orkut, Picasa, or Chrome) to like Local Future Network's video.

Sign in to YouTube

Sign in with your Google Account (YouTube, Google+, Gmail, Orkut, Picasa, or Chrome) to dislike Local Future Network's video.

Sign in to YouTube

Sign in with your Google Account (YouTube, Google+, Gmail, Orkut, Picasa, or Chrome) to add Local Future Network's video to your playlist.

Uploaded on Jul 30, 2010

Ellen Hodgson Brown explains the rationale behind state owned banks. Due to the collapsing credit bubble which in turned popped the housing bubble, leading to recession, and perhaps, economic depression, there is not enough money and credit to keep the economy running. Three possible solutions are that the federal government issue debt-free money directly, that communities create alternate or community complementary currencies, or that a state create its own state owned bank, similar to the Bank of North Dakota. For example, a state owned bank in Michigan could provide credit to the state itself for infrastructure projects, help provide the capital for local banks, so they could in turn provide low interest loans to home owners, small and medium sized businesses, and students. In addition, a state owned bank could be used to help fund state expenses during tough times by providing loans. A major advantage of a state owned bank is that the state could borrow money from the bank at zero interest, for projects, saving between 50% and 100% of the cost of the project, since there would be no interest burden when repaying the loan. For Michigan, California, Florida, and other states looking to solve their economic problems, the state owned bank model, and the Bank of North Dakota in particular, should be studied in depth, as such a bank could provide the credit needed within that state economy during depressions and other tough economic times. Thanks to Local Future for producing this video.

Loading icon Loading...

Loading icon Loading...

Loading icon Loading...

The interactive transcript could not be loaded.

Loading icon Loading...

Loading icon Loading...

Ratings have been disabled for this video.
Rating is available when the video has been rented.
This feature is not available right now. Please try again later.

Loading icon Loading...

Loading...
Working...
to add this to Watch Later

Add to