THE PEOPLE'S BANK?
After predatory and exploitive banks nearly caused the collapse of the international banking system, have you wondered whether the people could start their own public bank, and in the process starve some of the banking beasts which have been preying upon us?
With the current success of online banking, the possibility is not that impractical. In discussing this issue with those learned in banking, I've recognized that all it would take to create our own public bank, is for a few committed individuals to join together and start one. It seems that rather than start one from scratch, a quicker and easier approach would be to purchase an existing, and possibly failing, bank, to serve as an already chartered brick and mortar base, or hub, and grow the bank online from there. Online banking is already proven viable and profitable.
The question, after securing the initial investors, is whether to keep the bank stock private to the original investors, but structure the bank's practices as public serving, not public exploiting, or, to offer bank stock for purchase to all depositors who wish to purchase them. This option would result in a bank with the greatest public character. There is also the possibility, depending on the sentiments of the original investors, to structure the bank as a non profit. This, of course, begs the question of why would the original investors put up the seed money, if it isn't for a return on their investment. Profit is not of itself, bad, of course. But here we have the option, a non profit public bank, or a socially responsible profit making bank. It would be very worthwhile to take the socially conscious person's pulse on this issue. Would you do business with a principally online bank, if it afforded you better value for your money, was more socially responsible than traditional banks, and, simultaneously deprived the out of control banks which have been wrecking havoc with all of us, from all profit possible?
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- Community, Tech, Progressives United, The Reform Revolution, 1 more
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- Banks, profit, non profit, value, 10 more
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SparkyJP
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The first step in bringing the banks under control is to "END THE FED".
The next step is regulation - Reinstate Glass- Steagall Act. On steroids!!http://www.youtube.com/watch?v=PTUY16CkS-k&feature=bf_prev&list=PLDD2C35...
IMO, The Federal Reserve is literally "Giving" away tax payer money to the banks through QE2. It is blatant theft! The banks own the Fed. Whose interests do they serve?
http://www.globalresearch.ca/index.php?context=va&aid=10489As for a peoples' bank; I'm not against it and I would support it; I just feel that it may be working around the edges, and not addressing the larger problem. But keeping more money and power from the hands of large banks is an admirable aspiration.
Please bear with me - I love quotes"The money powers prey upon the nation in times of peace and conspire against it in times of adversity. The banking powers are more despotic than a monarchy, more insolent than autocracy, more selfish than bureaucracy. They denounce as public enemies all who question their methods or throw light upon their crimes. I have two great enemies, the Southern Army in front of me and the bankers in the rear. Of the two, the one at my rear is my greatest foe."
--Abraham Lincoln, President of the United States - 1 year ago
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SparkyJP
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COMMONSENSEFORCOMMONGOOD_COM
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SparkyJP:
OMG! I'm literally awed. And I do, SO, concur with you. The video, which I've never before seen an example of, is mind blowing. The quote, and your accessing of it, is mountain moving.
Have you already posted a story of this? The Fed Must Go is one story, The War Of The Bankers is another story. And you are probably chock full of such stories. Sometimes stories must be retold with different words, for more people to understand them.
I'm dying to see changes to these issues. I'm holding on, as long as I can...
- 1 year ago
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COMMONSENSEFORCOMMONGOOD_COM
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August_K
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The Public bank concept has existed for nearly 100 years in N. Dakota.
It's not a typical "people's" bank.....but they sure have the right idea and have been successful at it. They have about 4% unemployment, the bank is making money and the state has no deficit problems.I like the idea of a public bank for just the people, by the people. I wouldn't want it to be online only though. That might work for some people but not everyone.
Regarding profits........why not give all account holders a cut of the profits each year......beyond what it costs to run the bank that is.
That would work.......plus a little interest on savings accounts or IRA's etc. - 1 year ago
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August_K
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COMMONSENSEFORCOMMONGOOD_COM
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August_K:
Right. I'm considering the benefits and power of a national people's bank, as opposed to smaller ones. While I encourage community banks, they can not have the influence, power and return potential of a national bank.
Brick and mortar banks are expensive to create and operate, thus raising expenses and lowering returns. Of course, in some major communities, they may actually more than pay for themselves. In smaller communities, perhaps the solution would be to keep minimal amounts of money in a local bank, and put greater amounts in online public banks. How would you feel about that? Not that I, myself, would rule out going the route of the giant bank chains. But, each existing large bank chain went through a growth cycle, getting larger one step at a time.
- 1 year ago
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COMMONSENSEFORCOMMONGOOD_COM
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VFORVENDETTA
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I always love what you post, but really, seriously, do you want me to post on this? I know this is so clichéd, but I'm laughing out loud, you know the entire source of this, what the fuck is there to talk about? that's like saying "breaking news, mobster is upset with the percentage (rape fee) he can charge to those that are in need, says that the percentage is not nearly high enough to cover his interest, details of 11" oh I forgot, you know who the fucking criminals are, you're just letting the rest of the folks know it. You're incredible!
- 1 year ago
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VFORVENDETTA
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COMMONSENSEFORCOMMONGOOD_COM
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VFORVENDETTA:
Yo! I'm truly not certain of your ultimate point. Yes, we all know that we've been raped, raped and reraped. But, would you move any money or account from you current bank to an online bank, if it did not have a branch in your community, based upon better returns or it's socially responsible practices? I can't quite discern that from your comment. And I too, am laughing out loud...
- 1 year ago
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COMMONSENSEFORCOMMONGOOD_COM
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- COMMONSENSEFORCOMMONGOOD_COM
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