Does Public Banking Work – Project Censored named The Public Banking Revolution one of the top 25 most censored stories of 2020. The independent media pointed out that a public banking system on a national scale could finance the Green New Deal, as Roosevelt’s Reconstruction Finance Corporation did. A state or city based Public Bank can keep money local and fund projects like affordable housing and infrastructure without concern for maximizing profits or shareholder returns. A living example for such a bank already exists for 100 years in the Bank of North Dakota.
Economist Richard Wolff appreciated Gov. Gavin Newsom’s approval of a bill allowing local governments in California to establish public banks. Wolff said if people only knew how public banking works they would campaign to get them established.
Professor Richard Wolff is the founder of Democracy at Work and host of their nationally syndicated show Economic Update.
Longtime critic of the private for profit banking system, Ellen Brown, campaigns to return control of money and credit to states, cities, and communities.
Paul Jay, invited her for an interview in June 2020. He is the former CEO of The Real News Network, now founder and publisher of theAnalysis.news. The full 30 minute interview of Ellen Brown by Paul Jay and a transcript are published on theAnalysis.news
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