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Ellen Hodgson Brown, author of The Web of Money, thinks Califonria's economic troubles and massive budget deficit could be improved if the state were to launch its own bank, just as North Dakota has done successfully for the past 81 years. A big piece of California's still-growing budget deficit is interest payments. But if we had our own state-capitalized bank, those payments could be made back to the people of California, at a substantial net savings.
The only state that has its own bank has a long and fruitful history with it, explains Ellen Hodgson Brown. But getting it started took another soret of credit crisis for the rural farmers there.
More recently, she continues, they have been devoting focused attention to the cklass of compounds known as endricrine disruptors.
Ellen H. Brown
Brown blogs about public banking on her website, and will also explain the concept and the arguments to support it atn the Sonoma Community Center in Sonoma on Friday, December 10 at 7:30 pm. Event details here.
