State Banks to Challenge Wall Street Money Monopoly with Ellen Brown

Many people feel used and cheated by big banks. Since checking accounts are nearly a necessity in modern life, most people do business with the corporations.

Vermonters for a New Economy, an advocacy group in the Green Mountain State have another idea. Now, 15 towns have voted to join their calls for a state-run bank.

A century ago, the Bank of North Dakota was established. That institution provides loans a affordable rates, and has been among the most secure of all financial groups.

According to the advocacy group, “the State of Vermont would deposit its revenues into the state bank. The bank would use these funds in ways that would create economic sustainability… [by making]… loans and engaging in other activities… to promote economic well-being in the state. The interest from these loans would be returned to the bank instead of out of state interests and would be available for further investment in the local economy.”

But would such a plan work in Vermont? And could an institution formed today be able to avoid corporate influence?

Ellen Brown is an attorney who has spent years researching global financial systems. She is also an author, penning Web of Debt and The Public Bank Solution. In these works, she writes about the influence of mega-corporations on the banking industry.

Brown is our guest on the show today. We will talk about the state of banking today, as well as the powers behind the industry. We will discuss the rise of public banking, and the events in the Green Mountain State.