Video: Taking Control of Our Money
At 5:23, transcript:
Is there an alternative? Yes. The first order of business is to take control of public money from private interests. One proven way is called public banking: banks owned by the public, dedicated to serving the people.
The proof of these claims is almost 100 years old: the Bank of North Dakota, the only publicly owned bank in the United States. It has been largely responsible for that state’s sizable budget surplus, high employment rate, failure-free bank history and vibrant economic environment.
And perhaps most telling, the financial debacle of 2008 had no effect on North Dakota because its money was invested at home, on Main Street, not on Wall Street.