Ever wanted to provide testimony at one of the many public hearings on public banking, but didn’t know what to say? Here you go -- go ahead and speak truth to power and see what it feels like!


Ladies and Gentlemen. I'm here to give voice to the simple truth that nobody can stop the power of a good idea -- Public Banking in America. This idea will remain with us, no matter how much some may wish to defend the status quo.

The idea is simple - a democratic, participatory approach to determining how credit is created and distributed in our state. Think of it as an annual planning session for the economy -- when was the last time you were able to prioritize economic development spending? The good people of North Dakota learned a long time ago that this was possible - they use their bank to direct NEW money to areas where they wish to grow their economy. Other states are exploring this concept as well, from the red state of Idaho to the blue state of California. The time for private banks to have exclusive control over the money supply in this state is over.

Publicly owned state banks serve the public interest in a variety of ways, including supplementation of the state’s general fund, making markets that the private sector abandons because the profitability is long-term, stepping in during disasters, and participating with private, local, independent banks to provide liquidity and boost employment on Main Street.

It's time to begin anew with a public bank and use this proven model here in our state. This will no doubt disrupt the status quo, but by most objective measures the status quo needs an overhaul.

Private bankers have likely already pulled many of you aside to voice their concerns. Let me be very clear -- public banking is a partnership, not a competition, between public and private interests, working together to benefit us all. The public bank creates the loan programs and the local private bank determines who qualifies for the loans. It's as simple as that -- the government is not involved in qualifying commercial loans. We don't need to argue the fine points of this -- I'm confident that the finer details WILL be worked out.

What I am here to say is that a state-owned bank has everything to do with states rights, sovereignty, and putting in place a democratic institution. This is Public Banking in America.

Boldness and decisiveness is what these difficult times require of our representatives and leaders. We urge you to rise to the challenge and vote for restoring the prosperity that can, once again, be available to all.

PURPOSE: To share information about city, county and state-owned banks.

PARTICIPANTS: Anyone involved in the legislative and policy efforts to create public banks.

FRIDAY, FEB 17: Guest Speaker, Ellen Brown, author of Web of Debt and Chairman, Public Banking Institute

FRIDAY, FEB 24: Guest Speaker, Ed Sather, SVP Trust and Treasury Services (ret.), BND

...and every Friday through March, 2012. All calls begin at 9am Pacific/noon Eastern and will last 60-90min.

Want to get involved but don't know where to start? Join our conference calls every Friday. Better yet, join us at the Public Banking in America National Conference. Contact us for more information.