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Prop. 51 Versus a State-Owned Bank: How California Can Save $10 Billion on a $9 Billion Loan


#1

Prop. 51 Versus a State-Owned Bank: How California Can Save $10 Billion on a $9 Billion Loan

Ellen Brown

School districts are notoriously short of funding – so short that some California districts have succumbed to Capital Appreciation Bonds that will cost taxpayers as much as 10 to 15 times principal by the time they are paid off. By comparison, California’s Prop. 51, the school bond proposal currently on the ballot, looks like a good deal.


#2

Jill mentioned Ellen Brown as a cabinet pick. I'll second that motion.

Direct Grassroots Democracy


#3

Although California and the other 48 states (ND already has one) desperately need a state bank, recall that on the verge of signing single payer medical insurance into law in 2003. Governor Gray Davis was taken out in the coup that installed Arnold the terminator who twice vetoed single payer in California.

If a state bank gets any traction in California, expect another coup. Single payer, state bank or other progressive action in California would quickly spread nationwide, so the oligarchs will do whatever it takes to stop these actions.


#5

STATE OWNED BANKS !!! YES!
Terrific article, to download, read, save and share with communities as brain calisthenics to take to town halls, state legislatures and others.
Though I am definitely indulging in a tangent, these ideas and observations are not limited to the context of the article. At the individual banking level - keep the idea of US Post Office Banking up and coming. All of the these ideas - and MAKE NO MISTAKE - there are treasures with track records tucked in communities all over the country with co-ops, local organic agriculture and the spectrum of related interests. Keep in mind that these are also the target of ALEC controls by way of legislative boilerplate.

If you listen closely, serious economic observers consider 'a correction' [understatement] up and coming in the market/ financial system.

Very important to keep in mind is that we need to be able to wrap our individual and collective minds around the strategies of interweaving these conceptual treasures - BEFORE - an economic tailspin. Preparation and timeliness in crisis is what nourishes level heads, enhances cross-interest alliances and builds a solid sense of civic life.


#6

Any politician pretending to regulate payday lenders is a phony. Payday lenders are simply filling a void left when postal banking was discontinued. Restoring postal banking as the first step toward establishing state banks is essential to moving back toward democracy and reducing the magnitude of the next "correction" that will actually be a recession or worse. Politicians are either part of the problem or part of the solution on this issue, there is no gray area...restoring postal banking post haste is the only way to control or eliminate payday lenders.

Banks will never fill the void left by discontinuing postal banking, If that void is not filled by restoring postal banking, payday lenders or worse will continue to fill it.


#8

Hmmm- That didn't stop Bank of America from washing all of that ill gotten drug money from the south of the border cartels....And for that they were given the usual fine with not one bankster doing time in the Big House...


#9

Ellen Brown- You are one amazing Woman-
These Ideas could make America not only A truer Democracy, but fend off the impending "correction/crash" which will show us all in spades what the Great Depression was really like-
Screw Goldman Sachs, JP Morgan/Chase, Bank of America and all of the other Zionist run banks on Wall Street- They are the ones that caused the Great Depression and made sure it lasted so long while buying up all of the smaller banking institutions-
Why should we wait around for A re-run of this miserable tragedy when Ellen Brown is showing us the solution?


#10

Good on you, Ellen! Give the public, state and local legislators concrete examples like this to base change on. It all begins when one person, like you, takes the first jump.

What others will not or cannot do for us we must do for ourselves. If we don’t stand up for ourselves, who will? Wake up, wise up and rise up, Conscious Creators becoming.

Is the growing insanity of our time telling us that it's time to start asking ourselves what we want from government, banking, business, the military, and education, instead of letting Government and Business tell us what we want or can have? With the communication possibilities of today, isn't it a great time for us to start discussing what we want most for our children, ourselves and the world? What can we do today for the selves we'll be tomorrow? What works best and makes us happiest?

Instead of complaining about what we don't like, why don't we begin thinking about what it is we do like? Who knows, maybe it's time to start a new political party with the platform in its name. We could call it the: What Works for Everyone Party (WWE Party). Instead of thinking we're here to be right or wrong, good or bad (value judgment), why not buy into the idea that we're her to live and learn in a process of value fulfillment? Blessings of love and understanding to us all.


#11

Very interesting - I will have to check out more of your publications. Thank you!


#12

Thank you----every year there are countless bond measures----and who is making bank on all these bonds????Calif should have done this long ago!