State Banks to Challenge Wall Street Money Monopoly with Ellen Brown

04-04-2014 • Next News Network

Many people feel used and cheated by big banks. Since checking accounts are nearly a necessity in modern life, most people do business with the corporations. Vermonters for a New Economy, an advocacy group in the Green Mountain State have another idea. Now, 15 towns have voted to join their calls for a state-run bank. A century ago, the Bank of North Dakota was established. That institution provides loans a affordable rates, and has been among the most secure of all financial groups. According to the advocacy group, "the State of Vermont would deposit its revenues into the state bank. The bank would use these funds in ways that would create economic sustainability... [by making]... loans and engaging in other activities... to promote economic well-being in the state. The interest from these loans would be returned to the bank instead of out of state interests and would be available for further investment in the local economy."