Drudge Retort: The Other Side of the News
Friday, April 19, 2019

Banks now create most of our money supply and need to be made public utilities, following the stellar precedent of the Bank of North Dakota, which makes below-market loans for local communities and businesses while turning a profit for the state. As public banking gains momentum across the country, policymakers in California and Washington state are vying to form the nation's second state-owned bank, following in the footsteps of the highly successful Bank of North Dakota, founded in 1919. The race is extremely close, with state bank bills now passing their first round of committee hearings in both states' senates.

Advertisement

More

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

Very American this wonderful idea is.

#1 | Posted by Tor at 2019-04-19 02:06 PM | Reply | Newsworthy 2

On Good Friday, a perfect time to contemplate the probable response from the money changers

#2 | Posted by 1947steamer at 2019-04-19 02:44 PM | Reply | Newsworthy 3

"On Good Friday, a perfect time to contemplate the probable response from the money changers."

:0

8)

Awesome observation.

#3 | Posted by Tor at 2019-04-19 02:56 PM | Reply

#2 They will get the GOP to pass laws outlawing this. Just like when cities raise the minimum wage above the poverty level status the feds set, the GOP steps in and make those laws illegal.

#4 | Posted by Nixon at 2019-04-19 03:03 PM | Reply

#4 | POSTED BY NIXON ......the GOP steps in and make those laws illegal.

there was exactly ONE exchange in the 2016 election that gave me hope.

senator sanders, you've proposed sweeping changes. how would you accomplish anything with a republican senate and a divided house?

sanders.."i would speak directly to the people, i would look out the windows of the oval office and see
100,000 people in the street. congress would listen"

#5 | Posted by 1947steamer at 2019-04-19 04:00 PM | Reply | Newsworthy 1

This would lead to more balanced budgets for States and local Governments who would usually cut the cost of their public works projects in half or in some cases by 2/3rds. But that's not all. It would also generate a profit for the State.

It is impossible to exaggerate the power possessed by those people that control the money supply.

We know States have the power to access the Federal reserve window, because that is what North Dakota does. It is an outrageous conspiratorial crime that our Federal Government is forbidden from doing the same. This is a scheme private bankers concocted, the same group of power brokers that caused the Great Depression, the Savings and Loan Crisis, the 2008 economic crisis and the collapse of currencies South of the border and in Southeast Asia.

#6 | Posted by bayviking at 2019-04-19 08:38 PM | Reply | Newsworthy 3

I like the idea being floated of adding banking at Post Offices.

#7 | Posted by AMERICANUNITY at 2019-04-20 12:39 AM | Reply | Newsworthy 1

About time.

Every state needs to do this then congress needs to start a real bank at the federal level.

"To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;"

Congress has seceded their power to the banks and it's high time they took it back.

Banks are like the virus in Office Space taking fractions of a penny off every transaction in the country, except much like the virus in office space they are taking much more than that. Banks are a literal drain on the economy of the nation.

#8 | Posted by TaoWarrior at 2019-04-20 06:52 AM | Reply

"On Good Friday, a perfect time to contemplate the probable response from the money changers."
Yes!

I like the idea being floated of adding banking at Post Offices.
#7 | POSTED BY AMERICANUNITY

Double-plus yes.

#9 | Posted by GOnoles92 at 2019-04-20 09:24 AM | Reply | Newsworthy 1

In the United States, the United States Postal Savings System was established in 1911 under the Act of June 25, 1910. It was discontinued by the Act of March 28, 1966

"But the issue isn't that banks are failing to serve their current customers. It's that they're leaving a group of customers behind. Bloomberg analyzed census and federal banking data and found that of the 1,826 branches that were closed between 2008 and 2013, 93% were in postal codes where the household income is below the national median. And predatory lenders have been quick to swoop in and fill the gap."

www.nerdwallet.com

#10 | Posted by 1947steamer at 2019-04-20 10:26 AM | Reply

Bloomberg analyzed census and federal banking data and found that of the 1,826 branches that were closed between 2008 and 2013, 93% were in postal codes where the household income is below the national median.

Who knew poor people didnt have money?

#11 | Posted by boaz at 2019-04-20 01:25 PM | Reply

Everybody rich and poor needs banking services. Bank of America was started by an Italian and they catered to the working class. But those days are over. They no longer GaS about the working class.

#12 | Posted by bayviking at 2019-04-20 06:51 PM | Reply

Comments are closed for this entry.

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2019 World Readable

Drudge Retort