Banking
Do you know the difference?
Public Banks
Community Banks
Commercial Banks
Investment Banks
Public Banks
Community Banks
Commercial Banks
Investment Banks
Banks create "money" out of thin air. What they do with that "money" is extremely important. The vast majority of people do not understand what "money" is and how it really works. THAT is the root of the problem.
The two videos below are probably the most important videos on this entire website. 99.999+% of the world does not comprehend the reality that is explained in the two videos below. I realize that the first video discusses banking in London and that the second video is nearly one hour long.
Please watch these two videos multiple times. Once you fully comprehend this information, you will realize why Henry Ford said that this information could spark a revolution.
We agree with the 2016 Green Party Platform:
"Since finance, banking, and insurance institutions occupy a privileged position of power at the center of commerce, this special advantage brings with it special social responsibilities. We must ensure that the institutions chartered for these roles take that responsibility seriously and serve the public interest.
Reform the financial industries to eliminate usury (exorbitantly high interest rates on loans) and ensure that they meet their obligations to taxpayers and local communities."
- "Break up our nation’s largest banks and financial institutions so that none is “too big to fail.” End taxpayer-funded bailouts for banks, insurers and other financial companies.
- Regulate all financial derivatives, ban any predatory or gambling use of derivatives, and require full transparency for all derivative trades, to control risk of systemic financial collapse. Require regulatory pre-approval of exotic financial instruments.
- Re-enact the Glass-Steagall Act, which prohibited bank holding companies from owning other financial companies and engaging in risky economic transactions.
- Oppose the federal government being the final guarantor of speculative investments. During a financial crisis, if the federal government and/or a central bank must provide relief, it should be given in an equal manner and at the most local level possible, so that benefits are equitably dispersed and burdens are equitably borne. So rather than pouring trillions of dollars into the banking system, they should have provided direct mortgage relief to homeowners suffering the most from the housing bubble and negotiated with lenders to provide partial loan forgiveness.
- Ensure that low and middle income people have access to banking services, affordable loans, and small business supporting capital, especially through credit unions.
- Oppose disinvestment practices, in which lending and financial institutions move money deposited in local communities out of those same communities, damaging the best interests of their customers and community.
- Support the extension of the Community Reinvestment Act to provide public and timely information on the extent of housing loans, small business loans to minority owned enterprises, investments in community development projects, and affordable housing.
- Strengthen disclosure laws, anti-redlining laws, and openness on the part of lenders regarding what criteria they use in making lending decisions.
- Oppose arbitrary or discriminatory practices that deny individuals or small business access to credit.
- Support development of charter community development banks, which would be capitalized with public funds and work to meet the credit needs of local communities.
- Support the expansion of co-operative credit unions.
- Prosecute criminal banking speculation. Penalties should include prison terms, revocation of corporate charters and confiscation of corporate and individual assets."
We agree with the 2016 Republican Party Platform:
"We support reinstating the Glass-Steagall Act of 1933 which prohibits commercial banks from engaging in high-risk investment."
We agree with the For a People's Party Platform:
"The massive too-big-to-fail banks are much larger and more consolidated than when we bailed them out after causing the Great Recession. They are threatening to crash the global economy and wipe out millions of jobs again. Public banks like the Bank of North Dakota are driven by service to their community rather than the profits of distant, giant multinational corporations. They make affordable loans to small businesses, farmers, students and government agencies. They save taxpayers’ money on infrastructure projects, eliminate billions in banking fees and keep profits in the local community - funds that can be returned to the people in the form of better schools, more libraries and lower taxes."
- "Revive Glass-Steagall
- Break up the big banks.
- End too-big-to-jail and hold accountable financial executives who defraud the public.
- Pass a financial transactions tax and regulate the sale of derivatives.
- Reduce and cap credit card interest rates.
- Eliminate conflicts of interest and increase transparency at the Federal Reserve.
- Enforce stricter oversight of banks, revoking the banking licenses for those that repeatedly engage in criminal, fraudulent, discriminatory and negligent activity at the public’s expense.
- Immediately revoke the licenses of banks found to be financing terrorism and drug cartels that presently get off with minor fines.
- Prohibit banks from writing off fines from criminal activity as tax deductions.
- Expand public banking and postal banking.
- Charter state banks in each state as well as a national postal bank, similar to the one that many developed nations have."
CONTROL:
The largest banks have monopolized the industry. They have too much power over the banking industry and too much influence over economic policy. They need to be broken up. Banks that enjoy the support of FDIC protection should not be allowed to engage in risky investments and expect to be bailed out when they suffer losses. A modern version of Glass-Steagall should be reinstated.
The largest banks have monopolized the industry. They have too much power over the banking industry and too much influence over economic policy. They need to be broken up. Banks that enjoy the support of FDIC protection should not be allowed to engage in risky investments and expect to be bailed out when they suffer losses. A modern version of Glass-Steagall should be reinstated.
FREEDOM:
As banks have consolidated, consumers have fewer and fewer choices to pick from. Regulations needs to be eased on starting and operating smaller, local, community and public banks.
As banks have consolidated, consumers have fewer and fewer choices to pick from. Regulations needs to be eased on starting and operating smaller, local, community and public banks.
CHANGE:
Consumer attitudes towards banks should focus more upon how banks can be better members of the local community and enhance local economies rather than operate solely for generating profits for their stockholders.
Consumer attitudes towards banks should focus more upon how banks can be better members of the local community and enhance local economies rather than operate solely for generating profits for their stockholders.
TRADITION:
The Founding Fathers were extremely wary of banking institutions and would be appalled by the situation that we have allowed to take over control of our currency and financial systems. Their wisdom has been ignored and we are suffering the consequences.
The Founding Fathers were extremely wary of banking institutions and would be appalled by the situation that we have allowed to take over control of our currency and financial systems. Their wisdom has been ignored and we are suffering the consequences.
CONGRESSIONAL COMMITTEES:
ORGANIZATIONS:
ARTICLES:
