Vatic Note: There are two methods or weapons if you wish, that could save the country. The first is state owned banks and the second is spiritual weapons of mass destruction. So, lets get started. She does a hesitating and stuttering good job on explaining how this would work and how it would fix the economy and why it would do so.
But what she either intended or accidentally also did was to show why fiat currency doesn't work over the long term and that is why the fiat bankers need world wars, more than just for globalizing, but also to breath new life into a collapsed fiat currency system.
She is also right about how this is working in North Dakota and why its working. She also highlights the very core of the problem with fiat currency institutions, which is that interest payments to Rothschild bankers and private shareholders eat up much of the tax base which would otherwise be used to fund projects and put people back to work.
She knows what she is talking about and if you can get past her halting and hesitant speech problem, you would learn fundamentals about the fiat currency system and how it hurts a nation engaged in it. With the state owned bank, in North Dakota, they even paid a rebate of their profits back to the state agencies that are depositors.
This is very educational, so enjoy and learn. We promised to bring solutions we find, for your consideration. If you believe this is true, then its time to contact your state house senators and congreemen/women and demand a state bank "WITH DEBT FREE CURRENCY".
Fixing the Economy with State Owned Banks
By Ellen Hodgson Brown
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.
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