All Articles on Public Banks

Why are banks no longer lending to each other? Are they afraid that collapse is imminent somewhere in the system, as with the Lehman collapse in 2008? (Photo: Phillipp/cc/flickr) Views
Is the Run on the Dollar Due to Panic or Greed?
It looks to be just another case of Wall Street fattening itself at the public trough, using the funds of mom and pop depositors to maximize bank profits and line the pockets of bank executives while depriving small businesses of affordable loans.
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What happened in Los Angeles proves it is possible to create a society where the public as a whole determines its goals and sets its own financial strategies for achieving them. (Photo: Twitter/@publicbankla) Views
California Opens the Public Banking Floodgates
The move shifts power away from profit-motivated board members of corporate banks and into the hands of the people.
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'Stunning Rebuke to Predatory Wall Street Megabanks' as California Gov. Signs Law Allowing Creation of Public Banks
"The people of California just went up against the most powerful corporate lobby in the country—and won."
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China thinks this is a better banking model than the private Western system focused on short-term profits for private shareholders. (Photo: Thomas Peter-Pool/Getty Images) Views
Neoliberalism Has Met Its Match in China
The Chinese have proven the effectiveness of their public banking system in supporting their industries and their workers. Rather than seeing it as an existential threat, we could thank them for test-driving the model and take a spin in it ourselves.
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Facebook CEO Mark Zuckerberg speaks at a 2014 San Francisco event in front of a screen showing one of the tech giant's early mottos, "Move Fast and Break Things." (Photo: Mike Deeroski / Flickr/CC BY 2.0) Views
Facebook May Pose a Greater Danger Than Wall Street
"Libra might someday be recognized as a sovereign currency, with Facebook acting as a 'shadow bank' that could compete with the central banks of countries around the world."
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"I'm a Capitalist," Says Warren…But Why?
Let's drop the dead-end debate of capitalism versus socialism and focus on choosing terms that capture what we really mean—an open, fair, and accountable market essential to real democracy.
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Newly-created credit directed into local communities by publicly-owned banks can provide the additional funding that local governments critically need. (Photo: Views
The Public Banking Revolution Is Upon Us
Banks now create most of our money supply and need to be made public utilities, following the stellar precedent of the Bank of North Dakota, which makes below-market loans for local communities and businesses while turning a profit for the state.
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The Fed is realizing that it cannot bring its balance sheet back to “normal.” (Photo: LeoLondon / CC BY-NC-ND 2.0) Views
The Fed's Dramatic About-Face
The central bank needs to be made a public utility, responsive to the needs of the people and the economy
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Although Venezuela is not technically at war, it is suffering from foreign currency strains triggered by aggressive attacks by a foreign power. U.S. economic sanctions have been going on for years, causing the country at least $20 billion in losses. (Photo: Alex Lanz / CC BY-NC-ND 2.0) Views
The Venezuela Myth Keeping Us From Transforming Our Economy
"Capitalism is quite simply incapable of regulating itself, and that is precisely where progressive governments and progressive government legislation needs to step in."
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Wind farmer Jan Marrink poses by his wind turbines in Nordhorn, Germany. (Photo: Martin Meissner / AP) Views
The Financial Secret Behind Germany’s Green Energy Revolution
The most profitable and efficient way for national and local governments to finance public infrastructure and development is with their own banks
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