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IPFS News Link • Government Debt & Financing

Brownian Schism


Restoring Credit with a Publicly-owned Bank: The Model of the Bank of North Dakota ... Neither states in the U.S. nor those in the eurozone can print their own money, but they CAN own banks, which can create bank credit on their books just as all banks do. Most of our money is now created by banks in the form of bank credit, lent at interest. Governments could advance their own credit and keep the interest. This would represent a huge savings to the people. Interest has been shown to make up about half the cost of everything we buy. Only one U.S. state actually owns its own bank – North Dakota. As of last spring, North Dakota was also the only U.S. state sporting a budget surplus. It has the lowest unemployment rate in the country and the lowest default rate on loans. North Dakota has effectively escaped the credit crisis. – WebofDebt

Dominant Social Theme: Let sovereign money rule (at a state level).