Discussion in 'Economy' started by Toro, May 14, 2010.
We're Not Greece--Yet - Up and Down Wall Street Daily - R. Forsyth - Barrons.com
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
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