Thursday, May 31, 2012

Move OUR Money: Public Banking Movement

For more information:
Move OUR Money is a call for cities, state governments and counties to move the public's money out of private banks and into public banks. Every quarter that goes into a parking meter, every tax payment that we make, every dollar that banks pay in penalties -- it's all OURs. Let's put it in OUR bank -- a public bank, one that serves the public interest.

Don't have a public bank? Contact the Public Banking Insitute to find out how you can start one in your community. Public banks are common throughout much of the rest of the developed world -- Germany and Japan have some of the largest public banks. Let's get with it and take our credit back from private banks -- let's Move OUR Money!

Why Move OUR Money?
The time for public institutions to place public money into private banks, which then use the public money for their own private gain, is over. Private banks have squandered the public trust.

Public money should be placed in public institutions -- public banks -- for the benefit of the public. Assuming safety, liquidity and return can be adequately addressed, there is no reason for governments NOT to put the public's money into public banks. After all, public banks ensure that the money is used for the benefit of the very same people who generated that money in the first place!

People need to understand that MONEY is a public utility, as much as water. People can't live without either in today's society. The attempt to "privatize" public utilities has the results of creating monopolies that resort to price gouging. The water wars in South America are a good example. A public bank would be a service enterprise not concerned so much for turning a profit as being a service to the community at large. is a coalition of organizations which advocate school districts, local, and state governments to move OUR money from the private banks to public banks.

Members of this coalition believe in a democratic economy – with a monetary system that is democratically managed by public institutions. We believe that the best way to end the hegemony and fraud so evident in the existing private monetary system is to simply not participate in it. We are creating a separate credit generating system through public banks that will better serve the people.

We are creating a new world - join us! It's only just begun.

Public Banks are ...

• Viable solutions to the present economic crises in US states.
• Potentially available to any-sized government or community
able to meet the requirements for setting up a bank.
• Owned by the people of a state or community.
• Economically sustainable, because they operate transparently according to applicable banking regulations
• Able to offset pressures for tax increases with returned credit income to
the community.
• Ready sources of affordable credit for local governments, eliminating the need for large “rainy day” funds.
• Required to promote the public interest, as defined in their
• Constitutional, as ruled by the U.S. Supreme Court

... and are not
• Operated by politicians; rather, they are run by professional
• Boondoggles for bank executives; rather, their employees are
salaried public servants (paid by the state, with a transparent pay structure) who would likely not earn bonuses, commissions or fees for generating loans.
• Speculative ventures that maximize profits in the short term,
without regard to the long-term interests of the public.