Public Banking Conference: June 2-4, 2013 – Trillions in taxpayer surpluses returned

Public Banking Institute is having our 2013 conference in San Rafael (Northern California) on June 2, 3, 4 to publicly present solutions in banking and money worth tens of trillions of dollars to Americans.

You literally have nothing more valuable to attend to (registration info here, including for only Sunday evening; Monday evening is free).

Among public banking’s available benefits:

Trillions in taxpayer surpluses are returned: California’s Comprehensive Annual Financial Report (CAFR) shows ~$100 billion in surplus taxpayer accounts that dwarf the $16 billion budget deficit. California also has ~$500 billion in claimed “investments” for pension costs. But the state received only $1 billion net from $500 billion “invested” (one-fifth of one percent) while Wall Street investors received over $2 billion in fees. The entire state has ~14,000 different government entities with CAFR taxpayer surplus totals conservatively data-sampled at the game-changing sum of $8 trillion ($650,000 surplus assets per California household).

The idea of a state budget deficit in light of this sum is tragic-comic!

Importantly and related to CAFR trillions hidden in plain sight, remember that McKinsey’s former Chief Economist James Henry documents from similar public documents that $21 to $32 trillion are held in off-shore tax havens. These assets were transferred there by the same “masters” who tell the 99% that there somehow is no money to fund infrastructure: we must accept overcrowded schools, crumbling roads, and watch vulnerable human beings suffer and die from poverty.

Of course, when we have useful work to be done, available resources and labor, and are told by the same “masters” that what is missing to connect them is green paper, this becomes a helpful public lesson in critical thinking and civic competence. Please remember also that because infrastructure investment returns more economic output than the cost of investment, the results are full employment, the best infrastructure we can imagine, and falling prices.

So, while it would be helpful to reclaim these trillions, we don’t need them when we create public money and credit at our command. We would only need to reclaim them from those who acquired these trillions through criminal fraud. And I recommend Truth & Reconciliation for those criminals among our 1%.

In context of the above bullet points:

  • Florida economist and Governor candidate Farid Khavari documents that 2% mortgages, 6% credit cards, and 3-4% commercial and vehicle loans would replace all state taxes. A floating interest rate could also cover state budget deficits.
  • Monetary reform creates debt-free money to directly pay for public goods and services. Because infrastructure returns more economic benefits than costs, we have astounding triple benefits: government could become employer of last resort for infrastructure investment (creating full employment), falling prices because economic output increases more than infrastructure investment cost, and the best infrastructure we can imagine. Creating debt-free money is certainly another tool to end state budget deficits (documentation here, here, here).
  • Being on a roll for Truth also frees other money: unlawful US wars can end, poverty can end that also increases productivity, and trillions of more dollars returned in the broader economy from other areas of parasitic oligarchic behaviors “covered” from public understanding by corporate media.

Each of the bullet-point topics will have its own article to explain in detail within the context of public banking, along with an open letter to economics teachers/professors, and a final call to the public for their action. Those links will be added at my hub articles at Washington’s Blog and Examiner.com as I complete them.

 

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  • Tonto

    Yes, Come one! Come all! Come to the public banking forum! You too can lose hundreds of pounds and regain your lost figure. Join the jet set, and make a fortune buying and selling real estate with ZERO MONEY DOWN! Sunday, Sunday Sunday! at the Detroit Dragway!!!!

    Come see the AMAZING Ellen Brown!

    I have not seen such incredible puffing since the advent of the buy-gold hustlers.

    Just reading what I have read here, I would vote against these something-for-nothing public banking people without the need to look any further into their plan for a new world order based on some crackpot ideas cooked up by the flakes behind the Public Banking forum.

    • http://www.facebook.com/people/Carl-Herman/100000930261713 Carl Herman

      Tonto: your “incredible puffing” “without the need to look any further” speaks for itself.

      Yes, please entertain yourself at the circus rather than get in our way.

      Thank you for the contrast of your argument, tonto, to remain being buried in the Elephant and Donkey crap of our current debt system, versus our arguments for public banking and debt-free money. I appreciate the service for people to clearly see these contrasting arguments that help them choose for themselves.

      • Tonto

        Come on, Carl. Admit it to yourself. You live in a completely delusional world.

        You write this tripe over at the Examiner, an online publication that doesn’t pay its “journalists” a single penny for their thoughts. And then you chase your own words all over the web trying to put out the small fires you’ve lit for yourself, defending your words as if you’re just another impartial observer. You’re not impartial, and you’re not even an observer.

        You are one of the two clowns on a stage, you light with your own spotlight.

        It’s all Vaudeville. Your only intention is deluding the masses. You don’t honestly think you can create -the truth- by hyping it into existence -do you?

        None of it is journalism, any more than the omnibus economics/sociological/political flatulence of Ellen Brown’s is economics. If you think people are outraged that Ben Bernanke is printing money for all his pals, -then just think what people must think about of what Ellen Brown is advocating? She wants to set up a printing press in every state capital for the pols there -to print their own money. We can then change the name of the country to the Fiat-Fifty, right? Cuckoo! Cuckoo!

        Given the notorious characters that infest every state government, Ellen Brown is essentially talking about unleashing inflation and corruption of apocalyptic proportions.

        Get a life. Do yourself a favor and unplug the Internet for six months. You’ll see, over that period of time, your inflated -sense of the worth- you are feeling now for this Greatest Show On Earth hucksterism -that you put so much misguided effort into- will slowly fade. You are not a journalist, Carl. And Ellen Brown is not an economist, either. You two are playing dress-up in the closet together.

        Let me suggest a hobby. Find some physical activity, that will help keep you fit for your later years, when fitness and health -and not delusional altruism- will be truly important to you. Life is sweet, Carl, very sweet. But life is very short too. You’re wasting yours playing the Internet shill for Ellen Brown’s laughable god-like musings about what should be done with the world. The thoughts of Ellen Brown are not worth enough air to blow up the paper bag she must be breathing into to get herself hopped-up enough to spew her egotistical -I’m an omniscient genius- miasma.

        You’ve ridden the hobo trains long enough, Carl. Jump off now, before it’s too late, and you end up nothing more than an Internet hobo, barking melancholy madness at the moon about what might have been if, -the people- just would have listened…

        • WashingtonDeathCult

          Is that you – Greenspan, Bernanke, Rothschild, Rockefeller?….LOL
          Sure seems someone is a shill for continuing the current debt-slave paradigm.
          Now, go check on your derivative portfolio, or see what benefits you’ve accumulated from your Dead Peasant Insurance account.

          • Tonto

            Yeah, okay, sure.

            Your post is a perfect example of the delusional ravings of an Internet junkie.

            And look at all the FaceBook-like “likes”! WoW! You, Carl, and Ellen are all liking the same imbecile posts. Is anyone interested? No.

            Are there enough “like” people interested to elect Ellen Brown the new FED Chairman? Sure there are!

            Well, her stage manager, Carl, thinks it’s just a matter of time before she’s elected by acclamation.

            Up is down, if you say it over on the Examiner and you can marshal the “likes” in your column.

            People will be rioting soon enough. Yes, they will.

            ===>>> Ellen! Ellen! ELLEN!!!

            And then after the riots, you will be bawling about how stupid and fickle “the people” are and how they don’t know -YOU ARE RIGHT- about how the world -SHOULD- work.

            I think you ought to ask yourself first, how’s the world working for you?

          • http://www.facebook.com/people/Carl-Herman/100000930261713 Carl Herman

            Tonto: do you really want to live your life with the self-expression you have here? If it’s not fulfilling for you, you may wish to reconsider.

            I’m satisfied I’m being and doing the best I can imagine.

            You’re likely to get what you give. Your call what to give.

          • jo6pac

            Thank You:)

  • jadan

    I am always cheered by your enthusiasm and your energy, Carl. Tonto can go elsewhere to shit in his hat. He doesn’t need to be doing it here! You’ve got nothing to say, Tonto. Your derision is just mindless monkey screech.

    But I want to point out, as I have done often, that the banking model the PBI points to as the nation’s only public bank, the Bank of North Dakota, does not create “at cost credit”. The BND is an iteration of the private financial system we call the Fed. There is no debt-free money available at the BND. Nor can one say that it is responsible for the budget surpluses in the state of ND. This is not proven, yet PBI has adopted this as gospel. The BND is not a public bank. Ask me why.

    Public banking that is actually public banking cannot co-exist with the Fed and the private system. Ellen Brown seems to think she can strike a deal with the devil. She’s wrong, gods bless her!

    • http://www.facebook.com/people/Carl-Herman/100000930261713 Carl Herman

      Hey, Jadan :)
      You are correct that BND is a limited model for public banking. Banks create “credit” and not money, also true. And there’s no working with the parasitic Fed and their partners in “leadership” for government, the Big 6 corporate media, and several oligarchies strangling key industries.

      I’ve always argued that HONEST economic cost-benefit analyses explain and prove that our current system can only produce debt-slavery, and other models in credit and money can unleash our freedom and optimal productivity.

      Try these ideas on for size:

      Credit and money are identical that both can be deposited into accounts.

      If you imagine a computer-bank with the capacity to create debt-free money and credit, you could use either function to fully-fund all public goods and services. This could allow government to become employer of last resort for full-employment, the best infrastructure we could imagine, and falling prices because infrastructure historically contribute more economic output than its cost.

      This computer-bank only need limit what we use for money to prevent inflation, but whether what is created has a plus or minus sign next to what it creates (money as plus, credit as minus) makes no difference to funding public goods and services. Neither money or credit is real. Both are functions to facilitate public goods and services.

      So! If we had economists honestly turned-loose on this problem, we could get several case studies to better understand how credit and money can best serve us.

      We know for sure that what we have now are lying sacks of spin, who are literal asset holes, damning us to unpayable and crushing debt. Forums like PBI are exploring other options.

      • jadan

        Agree, Carl. And it is hard to fault PBI & Ellen Brown for the effort to create awareness. That is step One. On the other hand, holding up the BND as a model to emulate creates confusion. The concept of “public banking” loses its meaning. Unlike the American Monetary Institute, which would eliminate the Fed, Ellen Brown’s PBI, does not want to confront this private system. They think they can have their cake and eat it, too. That’s California, for ya…….

        • http://www.facebook.com/people/Carl-Herman/100000930261713 Carl Herman

          jadan, Ellen is a good friend of mine. She does not want the Fed in its current form anymore than the American Monetary Institute (AMI). She and I see the value of educating thousands of state legislators and the public to unleash public banking AND continuing voice/work for monetary reform. I presented at two of AMI’s conferences and in private could get Stephen Zarlenga of AMI to see the wisdom of a two-track political approach in our private chats, but Stephen keeps hope in the US federal government as the best approach. If people move forward in good-faith effort, all such work will help!

          • jadan

            The opportunity to transform the private and corrupt Fed exists now in the moment of its failure and weakness. When Tonto, above, stops jeering and starts talking seriously, he makes good sense, and it is clear that the public banking message is not getting through to him. He thinks credit is debt. Most people do, because it is under our private system. The idea of public banking is foreign to them because they are convinced Austrians with a profound distrust of government and the paper money issued by governments. It’s unlikely that Tonto will ever see that public banking is the solution to our present crisis, but we owe him a straight story just the same, and that story is this: only the sovereign government can issue real money. Real money is the same thing as “free” credit. A Federal Reserve Note is not real money. It is ultimately debt. A greenback is real money, backed by the full faith and credit of we the people.You can’t have a public bank that deals in FRN’s, or money-as-debt. A public bank is a bank that deals in real money, sovereign, democratic money, not money-as-debt, not the private debt-money issued by the Fed. You simply can’t have it both ways because you destroy the meaning of public banking. You create confusion. This is not educating the public. This is a kind of sophistry, or in popular terms: bullshit. When Bernanke and his oligarchs decide it’s time to increase the price of credit, your public banking will be no more than a fig leaf to protect the people. They have monetary control that properly belongs to the public central bank, ie, the Treasury. Bernanke is between a rock and a hard place, however. He has no more monetary control because he and his cronies have terminally fucked the system. It just doesn’t work anymore! It’s like a car with failed brakes and steering. It’s going, but you don’t really know where! The private system is down for the count and what are you doing, Carl & Ellen? You’re offering a hand up! Here, Ben, we’ll help you out: we’ll take public revenues to capitalize a new domain of state banks ( the BND model), and we’ll leave you in control of monetary policy. And it’s because we like your big brown eyes, Ben.

          • http://www.facebook.com/people/Carl-Herman/100000930261713 Carl Herman

            jadan, I’ve been among the strongest voices to arrest obvious criminals for obvious crimes, including fundamental fraud in saying that debt is money and unlawful wars.

            Actually, I will offer the criminals a hand of Truth and Reconciliation, and invite lying sacks of spin like Ben to teach university courses to improve our critical thinking skills.

            I’ve been writing of these “emperor has no clothes” obvious crimes for four years; this was the latest: http://www.washingtonsblog.com/2013/03/easter-2013-love-life-on-earth-reborn-only-when-1-criminals-arrested.html

      • Tonto

        You are simply full of it. I’m sixty-three, Carl. My experience is far different from yours.

        I
        have NEVER had a loan or a credit card in my life. I have lived in the
        nicest home in town, and there raised two boys now thirty-five and
        thirty-three.

        I now live in a one-bedroom apartment. Living in a
        one bedroom apartment saves me big-time every month. I save
        (accumulate more) money EVERY MONTH. I’ve been an entrepreneur my
        entire life. I can count the number of “jobs” I ever held on one hand.
        I have -for the vast majority of my life- run my own businesses. I do
        so now.

        Money and credit are not the same thing, as you state.
        Credit is what dummies use to buy things with. With credit, you never
        get a deal on anything. You pay for the item, and you pay the banker
        too. When I lived in the nicest home in town, (I bought it with cash),
        it was a fifty acre farm with five bedrooms, two barns and over
        three-thousand feet of road frontage. I built one of the barns myself.

        You
        are so lost in all your theoretical urges about the credit economy and
        how you think things should work, (if things were fair?), you’ve never
        even considered that the credit-side of this economy is what is keeping
        you down.

        I am sick and tired of reading your tripe about how the
        economy should work, (boo-hoo), when you haven’t a clue how the economy
        does work. Printing money doesn’t create full employment, and it
        cannot, due to human nature. Printing money creates graft and a greater
        disparity between rich and poor. Look around!

        If you want full
        employment then you have to talk about getting the printing presses shut
        down, and, about getting back to letting the entrepreneurs buy and sell
        our way back to prosperity. Free market enterprise is the only thing
        that is proven to give us full employment and prosperity.

        The
        credit-economy is a new invention, maybe thirty or forty years along.
        And the credit-economy has failed -miserably. We are in a deflationary
        recession thanks to the stupid credit economy.

        And honestly -if
        you had an ounce of business sense, you’d see there is fantastic
        opportunity in this depressed economy. Now is the time to buy low.
        That does not mean going on CraigsList and bemoaning all the
        ridiculously high prices there. It’s free to post an ad on CraigsList.
        If you are going to buy low, you have to talk to sellers, until you
        find one that is realistic about their need to sell.

        Screeching
        monkey shit is what you’re peddling, delusional, meaningless screeching,
        Ellen Brown, monkey shit about making changes to the economy that God
        himself could not make. You are ignoring human nature. Money printing,
        no matter the source, attracts thieves galore. Is that what you really
        want, to reward the thieves?

  • http://bigdanblogger.blogspot.com/ Big Dan

    Off Topic: agent provocateur arrested next to Adam Kokesh plants a joint on him, he’s arrested in federal custody on “resisting arrest” (not for drugs). (this is the info as far as I know)

    Adam Kokesh also “happens” to be leading an open-carry march on Washington DC:

    https://www.facebook.com/events/252728144871259/

    In those videos above, it looks like they arrest a guy with a crewcut & t-shirt NEXT TO Adam, pull his arms behind his back like they’re arresting him, lead him NEAR Adam, and the “arrested” guy plants a joint on him.

 

 

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