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May 1, 2012 NN Participates in Public Banking ConferenceMove Our Money!By Conni Bille Philadelphia's Friends Center was the site of a conference on April 27-28 which hopes to impact public finance in a real and practical 99%ish way by putting public monies to work for the public. What a concept! Three members of the NN Steering Committee participated. ...Continued from home pageDid You Know North Dakota Has Its Own Bank?Yes, over 93 years ago the citizens of North Dakota set up a state-run bank The Bank of North Dakota (BND) to finance public endeavors - from student loans to major construction. It is now the largest bank in the state. It it does not have a retail operation - it provides the financing for smaller banks who do not have enough capital and enables them to finance major construction, etc. Tax Dollars at Work for the 99% - ReallyThe BND gets its cash from the state! State cash deposits have to be kept somewhere - and in North Dakota they do not put the money in CitiBank or Bank of America or the usual suspects - they put it in their own bank and pay interest to themselves!!! This has saved the state LOTS of money - it frees up cash for public works. So have you wondered why the unemployment rate in North Dakota is only about 3% when it is 8% elsewhere? They can build things and employ people without going to Wall Street for financing. Can We Get a Pennsylvania Public Bank? Please!This is a great idea - and it has excited people all across the political specturm. from 99%ers to Libertarians to even some old-timey Republicans. There are initiatives in several states to create public banks - which can even be created at a county or city level. If You Are InterestedFor more information go to the Web site www.publicbankinginstitute.org
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