Governor Gavin Newsom signed a bill that lets municipalities sponsor public banks, and Los Angeles’ City Council is creating a proposal for one. David Jette of Public Bank LA says this will help cities and counties invest in affordable housing and renewable energy.
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He told the real plan when he said "find people from the community as much as possible" , with literally 5 million or people, it seems that it would be nearly immposible to not be able to find everyone they would need in the community
WOW! YAY! THANK YOU.ðŸ‘
Based on the comments, it seems that most people don't understand how banks really work. In order to pay interest, the money has to be loaned out or invested. Therefore, if these banks are simply repositories for funds there's no money to pay interest. Banks that are subject to public whims will not work. BTW they may not be insured by the FDIC.
But, how safe is your money in a public banking with manipulates that involve pension funds?
Unfunded pensions and retirement crisis: https://www.youtube.com/watch?v=k9_bWbrYPKg
If those in power decide they can't defeat a progressive idea, they'll do their damnedest to bastardize it so it poses no true threat to them.
And then they will say it "was their idea all along."
The Creature from Jekyll Island by G. Edward Griffin – how the Federal Reserve was created – should be required reading in schools.
Is this like a community bank? I like those. They put their debits and credits on the wall every month or more. Those who run banks don’t care about the best interests of the people.
MICHIGAN GO! PUBLIC BANK
They used homeless people to push affordable housing and then using nonprofits to create their own public banks.
I only have 2 question one is this being done just for the booming legal marijuana biz to be able to bank and lastly is this going to be FDIC insured
50 year mortgages? Why stop there? How about your children can be slaves too?
Why is this bank different than a fed bank? Fiat money is fiat money. What would back this banks fiat money, gold, silver?
PUBLIC BANKING , IS NO DIFFERENT THAN , ( THE FEDERAL RESERVE ) . !!!!! . OWN BY PRIVATE= PUBLIC, COOPERATIONS .!!!!! .NOT THE FEDERAL , GOVT. ITS JUST ANOTHER SCAM . !!!!!!!!! . WAKE UP .!!!!!!! . PAPER 🧻 MONEY 💴. NOT BASE ON , GOLD .!!!!!! .😎📚📖📚😎🚨☠ï¸ðŸ’€â˜ ï¸ðŸš¨….PROPAGANDA & LIES .!!!!!!!!! .TELL THAT TO THE HOMELESS .? .
The liberal politicians are the same type of people that run the fed. Let's wait and see.
You all better check if it’s Ethical!!! Is your money protected?? They could fold!!! I wouldn’t put money in them
Beautiful..Congratulations California……,,,,I wish this great state,All the best!
Thank you
While I support Crypto, Coin and other alternatives. This is a really really bad idea. Here is the truth. Do you trust Municipality Banks to return your money to you when the Municipalities have so over spent their bonds are junk, they are on the edge of bankruptcy, and they are not allowed to barrow anymore??? Consider that every time a mortgage is taken out, the bank lending creates money out of thin air, but must have a percentage of the cash on hand by federal law, so eventually it will be paid off by circulation of that cash. Anyone want to bet that California starts printing its own funny money next, because of an unwillingness to wait for circulation to pay the public debts off????? Designed to fail, California Municipal banks are being created to fund money losing activities and projects for the purpose of keeping Democrat Party Communist Socialists in office as well as avoid having to declare bankruptcy and restructure. The debt will be forced on the next generations after the elderly are penniless. Listen to the SJW words they say. They are violating the the US Constitution all the more. This is part of their Communist Revolution.
Finally, good luck to you all !!!!!!
End the Fed! but yeah this is going to fail miserably. Run by democrats in California… what could possibly go wrong?
The parasitic GLOBAL BANKSTER ! Will infiltrate over time ,a year , decade a century
The organism does not care,TO
Trash the sheeples,cattles FUTILE ATTEMPTS?TO STOP THE END OF SLAVERY .GOOD LUCK THOUGH FROM THE 🇬🇧
Will need a bailout not so far into the future…
People belly ache about taxes, inflation, rising cost of living, rising health care costs, student loan debt, stagnated wages/ incomes, endless war military spending, tax cuts for wealthy people who don’t need it, homelessness/ childhood starvation/ poverty, wealth inequality, the homeless problem, wage/ debt slavery, corporate controlled artificial scarcity, cheap imported Chinese made products, outsourcing, horrible trade deals, job layoffs, unemployment, economically desperate gambling addicts pissing all their money at the casinos. corporate bribe money in politics, private vs public banking, landlords and real estate speculators raising your rent and housing, wealth concentration, rising gas prices, etc. But they don’t want to acknowledge and eradicate the root cause/ disease of all these symptoms and problems. The root cause being capitalism
Demonetize/ dematerialize everything, abolish banking, abolish the fractional reserve debt based monetary system, automate all the jobs away, make all our human needs and living expenses free/ human rights, and abolish capitalism. Problem all solved.
Eliminate medical bill debts and student loan debts that leads to bankruptcies
Stagnated flatlined wages/ incomes, rising market price inflation, rising cost of living immediate expenses, the top 400 richest people paying less taxes than everyone else below them, etc= People being forced to work longer hours, borrow more money added with interest, and spend beyond their means. That’s capitalism 101.
Banks controls people and controls nations through debt. Wage/ debt slavery.