A State Bank for Every State

With my friends losing their homes because of the fires in California and with trillions of dollars spent on wars, our economy leaves families and people insecure. Children have to move in with their parents and grandparents. There is a solution that baby boomers can take to remedy the financial situation in the United States. We can do what North Dakota has done. Create its own State Bank.

What are the advantages to having our own State Bank? First we would pay no compound interest to big Wall Street banks for loans. Taxes and the cost of education could be greatly reduced. The State would prosper. In case of a disaster requiring funds, we would not have to wait for the federal government to assist. A State owned public bank would keep borrowing costs down. This will help municipalities. State and local governments would not have to invest their tax revenue in the Wall Street Banks, that created the financial disaster in 2008, (when pension funds were slashed). Wall Street takes the money and gambles with it in the financial casinos loaning out huge amounts to hedge funds, arbitrageurs, high frequency traders and corporate raiders. They are involved in emasculating the economy rather than building up wealth.¹ They have such power that they can bring down the price of coffee, raise the price of oil, or ruin a nation. They have no interest in the welfare of the public.

What is the downside of a state public bank? The big private banks would lose on payments of interest, BUT, as the state prospers, more people would be employed, businesses would flourish. They could borrow from local banks. New industries could be born, especially relating to energy and clean drinking water, as is functioning in Iceland today. When Iceland was it debt, it let its private banks fail. Now Iceland is prospering. The world should follow the example of Iceland. Instead of war, greed and self-interest, we could share the new technologies and resources of the world, where everyone benefits.

North Dakota is the only State in the Union with its own State Bank. It makes a profit every year. The bill creating their State Bank was passed in 1919. It was found in their State’s archives. When a disaster occurred, the people did not have to wait a year or longer before they were compensated. Other states at that time, passed a similar bill creating a State Bank.

When Col. Moammar Gadaffi was at the head of Libya, he nationalized the Central Bank of Libya. State loans could be made without interest. He gave the people free health care, free electricity, free education and $50,000 to each couple that married.² The Central Bank did not have to borrow money from the World Bank.

Through the internet you can find the telephone numbers of all the State Senators and State Assemblymen. What is needed is a fire under their feet to get them moving. It is only through PEOPLE POWER that progress will be made. We can show the world, the harmonious way to function.

If anyone is interested in receiving FREE of charge three pages weekly online of the Ancient Wisdom Teachings as was known by Pythagoras and Plato they can contact me at www.FreePythagorasTeachings.com

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¹What a Public Bank Could Mean for California by Ellen Brown

²As Ellen Brown of the Asia Times writes www.atimes.com/atimes/Middle_East/MD14Ak02.html

Marguerite dar Boggia formerly served as Membership Secretary of ISAR, (the International Society for Astrological Research). She was past publisher of Kosmos, the ISAR Journal, as well as Secretary & Director of ISAR and UAC, (the United Astrology Congress). She is a co-founder of UAC and served as its Registrar at the first UAC’86. Her articles have appeared in the ISAR journal in addition to others. Her goal is to cooperate with the Spiritual Hierarchy of our planet and to work for and to serve humanity. She offers online FREE, three pages weekly of the Esoteric Studies as was known by Pythagoras. She can be reached at her website: www.FreePythagorasTeachings.com which she created at the age of 90: