California Higher Risk of Default than Iraq

Discussion in 'Economy' started by Toro, May 14, 2010.

  1. Toro
    Offline

    Toro Diamond Member

    Joined:
    Sep 29, 2005
    Messages:
    50,771
    Thanks Received:
    11,058
    Trophy Points:
    2,030
    Location:
    The Big Bend via Riderville
    Ratings:
    +25,106
    However Â…

    We're Not Greece--Yet - Up and Down Wall Street Daily - R. Forsyth - Barrons.com
     
  2. georgephillip
    Offline

    georgephillip Gold Member Supporting Member

    Joined:
    Dec 27, 2009
    Messages:
    26,428
    Thanks Received:
    1,265
    Trophy Points:
    215
    Location:
    Los Angeles, California
    Ratings:
    +2,039
    What would happen if the state of California started doing business as the State Bank of California the way North Dakota did in 1919?

    "A state-owned bank could be fast tracked into operation in a matter of weeks. With over $17 billion available to deposit in its own bank, California could create $170 billion or more in credit--enough not only to meet its budget shortfall but to fund many other much needed projects; and rather than feeding an ungrateful Wall Street, the banks profits would return to the state and its people."

    Ellen Brown's Web of Debt
     

Share This Page