Some

people think the Federal Reserve Banks are the United States governments institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign swindlers.

Drawbacks of Private Banking

Benefits of Public Banking

Article 1 Section 8 : The Congress shall have Power to coin Money, regulate the Value thereof

Louis T. McFadden Chairman of the Committee on Banking and Currency, 1932

Private banks are lucky. They get free or nearly free money from the Federal Reserve. With this free money, private banks make tons of money by charging us interest. Likewise, private banks make tons of money when the state borrows money to repair roads and bridges, build schools, and maintain public services. They make tons of money when they charge interest to you too.

Our current money system is like rain falling in only one persons yard, and that one person gathers rainwater for free and sells it to the rest of us. Today money flow is monopolized in private hands.

Our current system serves the interests of private bank owners. They get rich. Our current money system does not serve the needs of the public. When our state needs money we either have to tax people more, or go more into debt to banks. In the current system a few people are getting rich. The rest of us are getting soaked. Public banking is a solution, a proven solution. What we have now isnt sustainable. We are becoming impoverished.

A public (state) bank holds states tax revenues and is mandated to spend that money in the state to fund building projects and make low interest loans to local businesses. Money in circulation creates jobs, which in turn increases state revenue, and all interest paid on loans returns to the general fund thus decreasing the need for taxation. Public banks create a virtuous cycle of money.

Public Banks are...

A solution to the present economic crises in US states.

Extending credit for infrastructure projects and to small businesses. Owned by the people of the state. Run according to applicable banking regulations Able to offset pressures for tax increases. Eliminating the need for large rainy day funds. Promoting the public interest, as defined in their charters. Constitutional, as ruled by the U.S. Supreme Court

Public Banks are not...

Run by politicians; they are run by professional bankers.

Giving bonuses to bank executives Speculative ventures that maximize profits in the short term, without regard to the long-term interests of the public.
To find out more go to wapublicbankproject.org Publicbankinginstitute.org banknd.nd.gov

North Dakota in the only state in the U.S that has its own public bank. It started in 1919 when farmers were unable to secure loans from Wall Street banks. Sound familiar? North Dakota has remained highly untouched during the recession. Note its economic growth from 2009-2010.

The Public Bank of North Dakota is our Example.

WHY?
Why do we have a state budget deficit? Why are cities going broke? Why is it hard to get a loan?

MONEY CRISIS

Why are people losing their homes?

There is a Solution to our Economic Crisis.

18 states in the U.S. are working on starting public banks.

Notice how many more small business loans are made in North Dakota (blue line) compared to in the U.S (grey line)!

To learn more go to: wapublicbankproject.org Publicbankinginstitute.org banknd.nd.gov