Tag: Bank of North Dakota
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The Public Bank Option: Safer, Local and Half the Cost
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A UK study published on October 27, 2017 reported that the majority of politicians do not know where money comes from. According to City A.M. (London) : More than three-quarters of the MPs surveyed incorrectly believed that only the government has the ability to create new money. . . . The Bank of England has previously intervened…
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Saving Illinois: Getting More Bang for the State’s Bucks
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Illinois is insolvent, unable to pay its bills. According to Moody’s, the state has $15 billion in unpaid bills and $251 billion in unfunded liabilities. Of these, $119 billion are tied to shortfalls in the state’s pension program. On July 6, 2017, for the first time in two years, the state finally passed a budget,…
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The Savings and Stability of Public Banking
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As a society obsessed by money, we pay a gigantic price for not educating high school and college students about money and banking. The ways of the giant global banks – both commercial and investment operations – are as mysterious as they are damaging to the people. Big banks use the Federal Reserve to maximize…
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What a State-Owned Bank Can Do for New Jersey
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Phil Murphy, the leading Democratic candidate for governor of New Jersey, has made a state-owned bank a centerpiece of his campaign. He says the New Jersey bank would “take money out of Wall Street and put it to work for New Jersey – creating jobs and growing the economy [by] using state deposits to finance…
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How to Cut Infrastructure Costs in Half
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President Donald Trump has promised to rebuild America’s airports, bridges, tunnels, roads and other infrastructure, something both Democrats and Republicans agree should be done. The country needs a full $3 trillion in infrastructure over the next decade. The $1 trillion plan revealed by Trump’s economic advisers relies heavily on public-private partnerships, and private equity firms…