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Iamwhomiam wrote: (8 subjects, Banking; Broadband; Electricity; Food and Farming; Pharmacy; Small Business; State Attorneys General; and Waste. Each topic listed there is a link.
https://ilsr.org/fighting-monopoly-power/
building publicly owned banks
the only state where community banks have flourished in recent decades is North Dakota, which has four times as many local banks per capita as the national average. Local banks and credit unions hold more than 80 percent of the deposits in North Dakota. Their strength is largely owed to the Bank of North Dakota (BND), a state-owned “bankers’ bank” that is the only one of its kind in the country. The deposit base of the BND is the State of North Dakota. All state funds, excluding pension funds, are deposited with the bank.
BND doesn’t lend directly to North Dakota businesses and farmers. Its lending is mainly done in partnership with local banks and credit unions. They originate the loans, while BND provides part of the funds and assumes part risk on its balance sheet. In this way, BND expands the lending capacity of the state’s community banks and credit unions. As a result, the volume of small business lending per capita in North Dakota is about three times the national average.[24]
Another critical function of BND is the role it plays in municipal financing. BND lends directly to local governments at lower rates than the municipal bond market provides. This stands in contrast to what’s happened in many other states, where city residents are on the hook for municipal finance schemes peddled by Wall Street and loaded with hidden costs.[25]
BND’s profits belong to the people of North Dakota and are periodically transferred into the state’s general fund. Over the last decade, BND has generated about $1 billion in profit, and more than $400 million of that, or about $3,300 per household, has been shifted into the state’s general fund to support education and other public services.[26]
A handful of states and cities have passed or are considering legislation to create their own public banks modeled on the Bank of North Dakota. In 2019, New Jersey’s governor issued an executive order to launch a state-owned public bank within a year.[27] California has also passed a public banking law. It doesn’t authorize the chartering of public banks immediately, but establishes a framework for cities and counties to apply for a public bank license, which would require a business plan, an independent board, and FDIC deposit insurance, among other requirements.[28]
Belligerent Savant » Tue Feb 15, 2022 4:47 pm wrote:.
Given recent developments in Canada (govt freezing/seizing bank accounts, etc.), it'd be prudent to revisit and strongly consider the above.
Elvis » Sun Feb 20, 2022 4:05 am wrote:Belligerent Savant » Tue Feb 15, 2022 4:47 pm wrote:.
Given recent developments in Canada (govt freezing/seizing bank accounts, etc.), it'd be prudent to revisit and strongly consider the above.
Link?
The government can freeze your bank account whether it's a private bank or a public bank.
Belligerent Savant wrote:Holy shit, Elvis. Really?
Belligerent Savant » Sun Feb 20, 2022 1:29 pm wrote:Elvis » Sun Feb 20, 2022 4:05 am wrote:Belligerent Savant » Tue Feb 15, 2022 4:47 pm wrote:.
Given recent developments in Canada (govt freezing/seizing bank accounts, etc.), it'd be prudent to revisit and strongly consider the above.
Link?
The government can freeze your bank account whether it's a private bank or a public bank.
Holy shit, Elvis. Really? It almost frightens me to think how many -- smart, well-read people -- remain ignorant to what's happening right now around them.
Elvis » Tue Feb 22, 2022 4:07 am wrote:Belligerent Savant wrote:Holy shit, Elvis. Really?
Holy shit, what? Public banks are bad because the government can freeze accounts, like in any other bank?
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