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"Well, we’ve had, since the beginning part of the century in North Dakota, a state-owned bank, highly successful. The press doesn’t cover it. But it’s a bank that exists just like other banks, but it doesn’t speculate. It doesn’t use money to do what the Wall Street banks are doing. And as I say, there are about 14 states that have introduced legislation to reproduce that, help finance small business, on the one hand, but co-ops and worker-owned firms, and most of this with a real green edge to it, ecologically developed. And in these city banks, the same thing, trying to focus—for instance, in San Francisco, there’s about $2 billion in state—in city money, that’s taxpayer money. Instead of putting it in the Bank of America, the proposal is put it in a city bank or a city credit union and then use that to finance development in the city.
Changes of major kinds, if you look at decade-by-decade development, fundamental systemic change is as common as grass in world history. A lot of pain. But I think an America beyond capitalism is a real possibility. Again, if you stand back, the way the civil rights folks did—my heroes are the civil rights leaders in the 1930s and '40s, the ones who laid the basis for the big change that came in the ’60s, and I think that's the way to understand what’s going on at the grassroots level and the sort of things that Occupation has been teaching us. Get in there now and begin to develop that base and that foundation for the transformation."
"A long era of economic stagnation could well lead to a profound national debate about an America that is dominated neither by giant corporations nor by socialist bureaucrats. It would be a fitting next direction for a troubled nation that has long styled itself as of, by and for the people."
I recommend watching the masters video 1st and the oz 2nd.
The masters flick is over 3 hrs, so your attention my drift from time to time, but the oz is where most of the 1st film main points are summarized.
Bill Still often quotes Milton Friedman and from what I've found online appears to be a Libertarian, yet Michael Hudson (who has worked with Denny as an economic advisor) and Ellen (although I have no record of how she identifies herself, she often appears on left leaning media like HuffPo) are given plenty of on screen time in the oz flick.
Still I prefer the solution of having individual states owning their own banks independent of the Federal Reserve or the FDIC (along the lines of the Bank of North Dakota) AND having nonprofit, full reserve (no fractional lending which Still strongly argues is fraudelent), saving banks at the municipal level.
50 or more players that are largely independent and have home team support would be harder to entrap than a large, centralized entity which is very secretive and remote from the masses of the population. Democratize, decentralize, localize and most of all revitalize!
I found Still's info on the decline of the use of silver as currency to be very insightful, along with his historical slant on the gold standard.
I suspect the Paulians might be turned off by Still's views on the gold standard, but despite that, locally OWNED and CONTROLLED banks are something that many across the political and ideological spectrum would be interested in.
One wonders why Still & Brown do not get more media attention?
More from Bill. I just have to give a little warning here. This character Jones is quite the drama queen, sometimes even moreso than the emo-chalkboarder. Still it seems he understands his audience well and knows what to market to them, so at least I can't knock his hustle, and frankly it seems like his marketing strategy is paying off.
I'm glad that Jones explicitly states that it is good to air both the Goldbugs like the Paulians and Greenbacks (hope I'm getting the lingo correct) like Still. Serious problems cool for serious and in depth critical thinking and its always a good idea to see an issue from as many angles as possible. Anyways enjoy. (Still begins about an hour in or so.)
"Alex Jones Show 4-26-11, W/ Bill Still and Wayne Madsen. Alex Jones talks with Bill Still and also Wayne Madsen returns for another interview."
To Kovert :
Yes, you would think this is a idea that could be embraced across the political spectrum, but our Friends on the right see the words "state controlled " and go into the it's socialism mode. I do not know how they would think it is flat out redistribution of wealth {taking of one giving to another } it is taking earned profit {interest } and re investing it into the state. Where's the freebies?
Are they telling us they would rather have freebies {bail out} going to the banksters if that is not socialism then what is. This idea would be a good issue for the tea drinkers but what do we get instead ? Instead we get them working themselves into a wild frenzy trying to get {R}s elected. Which in turn puts the Boner into the speakers chair. This is the same Boner that is golfing buds with the Goldman Sach's crowd where he ball washes and promises favors for campaign contributions.
There is no recourse for the people when the banksters have both parties under control and the best thing we could do is get behind the idea and give it to the states where it is closer to the people.
Apparently you do not know that the word Republican means small Federal Government and the states should have the power.
This is the 1st of an excellent series of talks devoted to developing alternative financial models.
Ellen Brown has a knack for being able to deal with people across the political spectrum.
Rather than trying to demonize finance & banks, Ellie understands that communities can not function & thrive without, and in particular she has been championing a more decentralized model of public banking.
And as Yves points out, this is not a democrat vs republican, us vs them issue.
Its an American issue.
The multi-national entities cater to a certain clientele, and Ellie is trying to let working & middle income Americans know that instead of getting turned off by finance entirely, they should look at models of how local communities can serve themselves.
Her conference presentation will address the questions: how has the BND managed to survive politically, and what difference has it made to the economic well-being of the state? "
"I'll use the metaphor of "edges" in nature, known as ecotones... "life" is regenerative because of the creative tension of the ecotones... leading to my point of view that the question is not public vs private, but rather, we need both in creative and constructive "tension" (meant in a good way) to sustain "life" in the real economy."
"Michael Sauvante is executive director and co-founder of Commonwealth Group (CG), which promotes triple bottom line (social, environmental and economic) approaches to business, banking, financial markets and economic development. He will speak on the possibilities and promise of city and county public banks, land banks and eminent domain."
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