December 6, 2012     Permalink public banking, the fed, the tea party, ows, single payer, comunity banks Submitted by Michael Dewey

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The Linchpin Tipping Point to Reverse Centuries of Top Down, 1% Power and Privatization?: click here

Public banks serve governments-- cities, counties, municipalities, states and in other parts of the world, whole countries. They serve them by making interest-free loans to them and by earning far greater interest on money they have. And they have a lot of money-- government employee pension funds, rainy day funds"  which ordinarily earn a tiny amount compared to what they would earn if a bank was using them to earn interest.