This video explains why fractional reserve banking and the money multiplier theory are myths and how banks do, in fact, create money. Want to know more about money creation? Check out the playlist: https://www.youtube.com/playlist?list… Want to know more about central banking? Check out the playlist: https://www.youtube.com/playlist?list… Check out how I […]
Monthly Archives: August 2022
5 posts
Last year’s American Rescue Plan Act, ARPA, sent more than $10 billion to Ohio — $5.4 billion to state government and another $5.3 billion split among local governments. Before that, the Trump administration’s CARES Act sent the state $2.6 billion. Researchers with the Ohio Poverty Law Center and Advocates for […]
Some of the oldest and largest banks globally are publicly owned.
The Bank of North Dakota is a public bank. Having a bank whose mission is to serve the public interest has allowed ND to recover from crisis much more rapidly than other states. This 2-minute video explains. To learn more about public banking, visit The Public Banking Institute.
Local U.S. governments collectively pay $160 billion annually just for interest on loans. Half the cost of infrastructure is interest, which normally goes to wealthy bondholders. The Bay Bridge Retrofit in Oakland, CA, for instance, cost $6 billion in principal plus another $6 billion in interest. With low rates from a public bank, infrastructure […]