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Public Banking: An Idea Whose Time Has Come

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Stephen Lendman
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Now's the time to change back by replacing their franchise with public banking, giving federal, state and local governments their own money system, interest-free to grow their areas and the nation sustainably and impressively, interest-free with low or no taxes. America's lacked it for the last century.

Doing so would revolutionize the country en route perhaps to ending predatory capitalism entirely, the ultimate aim, replacing a destructive system with an equitable one, serving everyone fairly.

More Evidence Why It's Needed

A new US census report offers more evidence why, saying one-fourth of US counties are dying (760 of 3,142), meaning they're showing more deaths than births. Why is at issue - because of the deepening economic crisis causing record high unemployment, home foreclosures, and human misery. According to Professor Kenneth Johnson:

"The downturn in the US economy is only exacerbating the problem. In some cases, the only thing that can pull an area out is an influx of young Hispanic immigrants or new economic development," not forthcoming.

University of Albany senior fellow James Follain said, "The housing (market decline) is creating a new type of ghost cities" because of waves of foreclosures in overbuilt urban areas. Recovery will be very slow, he said, because of fiscal restraint when stimulus is badly needed. 

Instead of curing the patient, we're killing it because giant banks control money, and government is colluding with them to wreck Main Stream America to create assets they can buy cheap at the expense of working households losing out. That's how private money power works - for them against the common good. What more incentive is there for returning it to public hands where it belongs, serving everyone equitably and fairly.

Replicating a Workable Model

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VISIT MY WEBSITE: stephenlendman.org (Home - Stephen Lendman). Contact at lendmanstephen@sbcglobal.net.  My two Wall Street books are timely reading: "How Wall Street Fleeces America: Privatized Banking, Government (more...)
 

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