Public Banking: Good for People and Why Bankers Hate It

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The issues with private banking are significant, Congressionally difficult to correct due to massive numbers of lobbyists and campaign cash (3,000 banking lobbyists against Dodd-Frank alone, 183 lobbyists were from Goldman Sachs), and inadequate outcry from citizens. But there is a little-known alternative called “Public Banking”. It exists in North Dakota where unemployment is functionally zero, the state runs a budget surplus, and the state-owned (publicly-owned) bank spins off about $80 million a year to their 600,000 citizens. North Dakota may even eliminate its income tax because the bank is so successful. Why not do this in Colorado? A small group of citizens are trying to get the issue on the ballot so people can vote on it, The big banks are scared to death and fighting back with the powerful politically-connected law firms. It is fascinating. Learn more from Tim Danahey’s guest hosting of Lisa Pernerelli’s “All Things Possible”.

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The Tim Danahey Show started in July, 2010 at internet station Castle Rock Radio. It started as a one-day-per week endeavor and quickly grew to five days per week. The show discusses economics, government, social issues, history, and non-fiction books in a magazine format featuring in-depth conversations with guests. Politics and inflammatory conversations are discouraged as they are divisive and counter-productive. Instead, the show seeks under-reported topics and delves into facts, different perspectives, and ramifications of each perspective.