Public Banking in one evening: Sunday, June 2, 7-9 PM with Matt Taibbi, Ellen Brown

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).

Only have evenings free? Be with two of the world’s sharpest minds and digital pens, Ellen Brown and MattTaibbi, on the topic, Reclaim our economy from Wall Street with public banking on Sunday from 7:00 PM – 9:15 PM.

You can also join us on Monday evening for free at 7:00 PM for The Trans-Pacific Partnership (TPP) Agreement declares war on sustainability, local economy, sovereignty, and public banking.

Among public banking’s available benefits:

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.
  • 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!
  • 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 as I complete them.


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  • Jackson

    In many states, the legislators are in bed with the FIRE sector. They get elected because of the campaign dollars from corporate lawyers, car dealers, real estate, and so on, not despite them. The status quo is so entrenched they will front non-profits that advertise they are dedicated to “consumer protection”, but do much of the opposite, to make consumers safe for business. The ideas sound almost too good to be true, but there is no TBTF machine that has done anything but create far more poverty for more people, for the profit of a fewer number.

    • If you want to understand trillions of our available dollars, do the homework to understand money and debt mechanics. The links in this article will educate. The mechanics for public access to these trillions is objectively and independently verifiably workable.

      Yes, it’s almost impossible to imagine a transparent government that won’t use all tools to enrich themselves and parasitize the public. That is why we must arrest and remove the criminals, or remove them through Truth and Reconciliation.

      • jo6pac

        So true and thanks Herman for posting and updating.

        • You’re welcome, jo6pac 🙂

          We’ll all keep doing our best and discover what develops. Thank you for your self-expression!

  • mmckinl

    If you can attend … GO!

  • Tonto

    “Public banking” Well, well, well… Some people really do believe that a revolution will solve the world’s problems. There is a saying about revolutions that is apropos here. It’s far easier to start a revolution than it is to predict where it will end up. And I might add, revolutions rarely are productive exercises for humanity. Doubt it? Name one that was -without being too nationally/politically centrist in the process.

    Calling this group or forum a “public banking” convention is pretty much like when the Russian revolutionaries called themselves Bolsheviks, isn’t it? Yes, it is exactly like it. This is economics? I suspect someone other than the “public” will specify the agenda, and delegate the speaking arrangements of the entire meeting. LoL

    Here in the comment galleria, Carl says, “If you want to understand trillions of our available dollars, do the homework to understand money and debt mechanics.” He says this without any effort to explain his cryptic over-lording message for the comment gallery.

    You don’t have to do the homework to see this isn’t -public banking- half-so-much as it is laying the groundwork for yet another creeping level of banking bureaucracy, intent on rationalizing their much-more-special-existence -based on their nearly-evangelical efforts to topple the old banking existence that has gotten so screwed-up of late. It’s called a deflationary depression, Carl.

    This “public banking” effort is a common theme of pragmatic thinkers. “The old experiment didn’t work, so let’s try a new experiment, our experiment, because we have the solution!” That’s the problem with all empirical knowledge. As the dangers rise, all the empirical gamblers keep drumming their magnificent omniscience. And all their efforts then go into trying to convince a public desperate for some solution, that they’re the next empirical messiah. Truth has nothing to do with their reasoning.

    The only -real- solution is to decline their invitation to more, heightened empirical madness.

    • Tonto, you have a lot to say while ignoring the mechanics of what we use for money and who gets to create it. How about this for an analogy/revolution: public sewers was and is a mechanical/engineering response to having waste thrown in streets. You’d have to be pretty stupid or a propagandist to complain against this engineering proposal with prose about “magnificent omniscience,” “empirical messiah,” and “bureaucracy,” all while refusing to address the mechanics in question.

      Whatever, Tonto. Feel free to discuss what you choose. We’ll get to work in having these solutions to reclaim trillions of our dollars.

      Btw: the word, “Tonto,” means something in Spanish. You’re smarter than refusing to address a proposed solution, dude. Better game-up or you’re asking to remain in the monetary system you’ve got, tonto.

      • Tonto

        Public sewers? That’s your example of empirical godliness? Really? You support crapping in the water and flushing it downstream? Great, Einstein. You’re drinking it too. We all are. Your science is a fraud. Economics is a fraud too.

        You don’t support those who create the public money now, and you (and your eager “public banking” upstarts) want to take over the role, right? Great!

        Bernanke has indeed outrageously led all his banker-pals down a primrose path. But that approach is about to be abandoned, for want of a better result. The demand for change is coming from the very bankers whose problems Bernanke tried to ease. Bernanke’s pragmatism has completely failed due to the complexity of trying to shore up a system whose -foundation- has been undermined by placing too heavy a burden upon it. This is the nature of all empirical failures. Pragmatism always generates such a result.

        Bernanke’s solution was typical of an empiricist, building higher and heavier. His empirical approach though, has only increased the burden on the very same underlying foundation that is failing.

        Now these young public banking upstarts who come along and retrospectively criticize Bernanke’s approach and the system within which he has to work, they are telling everyone !!!THEY HAVE THE SOLUTION!!! No they don’t.

        For anyone who is not blinded by the idiocy of believing in scientific genius (or economic genius) the public banking upstarts have nothing new to offer at all. They merely want the chance to steer the caboose.

        The empirical world is over, Carl. Empirical solutions are now widely known -not- to work. You might just as well advocate going back to lamp oil and bees wax, or, sailing ships ships and loadstones. The realm of categorical knowledge has been opened wide. The empirical world is shutting down -because it is falling down too.

        We can now safely say, listening to more claims of empirical genius-wizardry is not going to lead us back onto a sustainable path. Empirical solutions have only made the problems worse, increasingly so, leading directly to another larger catastrophe built upon previous empirical catastrophes.

        It is in fact empirical solutions that are the entirety of all the problems. The mudslinging of competing empirical groups at this point in the collapse, is merely a diversion, and a diversion that is a wholly laughable joke!

        Send in the clowns!

        • What is your response to our current banking and monetary system, Tonto?

          You fail to appreciate solutions to human waste thrown into the streets as much as solutions to our parasitic banking and monetary system.

          A well-designed sewer system keeps waste concentrated, sends it to a treatment system, and then applies best current technology to keep waste away from the public.

          A well-designed banking and monetary system keeps money from being concentrated, opens it for maximum public benefit to fund goods and services, and applies best current technology to keep money away from parasites.

          Time to put-up a solution, or shut-up, pal.

          • Tonto

            Your solution is no different from previous solutions. Your solution is a call to continue down the path of pragmatic half-fixes. You want some new empirical regime to step into the shoes of the old empirical regime. This is exactly what happens every time the old regime runs out of excuses for the failure of their quick fixes. It’s a hand-off, you are seeking, a hand-off to more incompetents who are lying to us about THEIR half-fixes.

            The empirical process is never a credible guaranty of anything but more of exactly the same that has built up the current problem that seems so insurmountable -except of course- to those losers who see nothing but an almost evangelical scientific genius in the current crop of loser-empirical scientists.

            My solution is to let the whole thing crumble. I see no credibility in someone like Ellen Brown. I see no credibility is anything called the public banking forum. I am not for half-fixing the current system at all. The current system is an abomination. Credit is nothing but theft from the future. Credit is the source of all inflation. Ellen Brown shows no capacity to think of economics without it being a credit based system. Ellen Brown is for more credit! Credit is what keeps everyone so poor. Fixing the current system is only going to -very briefly- extend the life of the current system at best, and will likely only be the catalyst to the complete destruction of the current system anyway.

            Ellen Brown is a back seat driver. Were she in the position of having to lift the heavy intellectual rocks that make the foundation of our failing system, she would crumble under the weight of the mightiness of the task. The concepts that need changing are not half as simple as you and Ellen Brown would want to make them out them out to be.

            No. I am for stability. The only way to create stability at this stage of the game is to let the whole empirical thing crumble. Every empirical knowledge set is a fraudulent lie made of half-truths, just like your sewer system that flushes the feces downstream after running them through a “sewage treatment plant”. Hah! You drink crap. We all do.

            Anything less than letting the whole thing crumble, is only going to be another half-fix and a perpetuation of exactly what it is you are so vehemently complaining about, cheaters, liars, thieves and scoundrels.

            The scientists and the economists are cheaters, liars, thieves and scoundrels too, Carl. And you know it.

            All science is like the science behind global warming. It’s a puffing contest.

            Categorical knowledge requires logic. But not the scatter-brained logic of empirical science that has a -preponderance of the evidence- fulcrum. That’s where all the rhetoric comes in. I’m talking about real logic.

            Categorical knowledge requires a logical trail that leads directly back to known truths, each step of the way, requires the logician to go back, to make sure, he has not violated his previous assertions in his proposed trail of logical thought.

            All logical thought must start here, with this categorically true statement-

            The moral imperative of life is to live a life that detracts not at all from the lives available to those who will follow us into this world.

            And this statement precludes anyone from making gambles that might negatively affect the future. It’s the gambles that invariably run into the most important knowable of all human knowables.

            -Reality is infinitely complex.- Fools who do not recognize the importance of this truth, are bound to fall victim to it, or to fall victim to someone who does know how importance of this categorical truth.

          • We agree on the use of truth, Tonto. We disagree that what we’re doing, in our view, is similar to taking crap off the streets and treating it to minimize harm and maximize good. You seem to see that no attempt to deal with crap in the streets (Wall Street and others) is worth the effort.

            Yup. We disagree.

            Good luck with your civic expression. If you go forward with a good heart, you’ll be helpful.

          • Tonto

            You see then. You just don’t see what it is you are looking at, yet.

            The categorical knowledge approach to reason and logic is always going to come out on top. The only thing you and I disagree upon, are what you believe in, and which cannot be supported by the categorical approach. My reasoning is based on the categorical knowledge approach to reason and logic. And that approach is emphatically -not- scientific.

            There is no reason for more credit. More credit is no solution. More credit is the problem.

            But regardless, some will endlessly go on and on, that they have the solution to a problem they are entirely incapable of understanding. What you need to do to begin to understand -the categorical knowledge approach to reason and logic-, is to consider what it means to have found a categorically true moral statement.

            Relative morality is banished. Relative reason is rendered as enfeebled as superstition. And now we can start doing what is right.

            Then right thing is not to look for solutions to our problems, but to focus on keeping our actions from creating more problems for the future. The emphasis is entirely different from the emphasis of the pragmatic empirical approach, which is focused on conducting more and more experiments in the hope of stumbling upon a better solution to an infinitely complex problem.

            It is the infinite complexity of all our problems that defeats the pragmatic empirical approach. Reality is simply far too complex to allow pragmatists to endlessly continue to tinker with it (reality). Someday, of course, they will blow the whole place to smithereens, -if we let them. They blew-up the economy, didn’t they?

            The categorical knowledge approach to reason and logic has conquered the pragmatic approach of empirical science, exactly the same as science once conquered superstition.

            In fact, the categorical knowledge approach to reason and logic, renders the pragmatic approach of science -a mere superstition-.


    • antoinepgrew

      Tonto, you don’t seem to understand the difference between a federal government/central bank issuing real money and the US banks’s credit creation. It creates two different universes and you’re mixing them.

  • antoinepgrew

    I wish I could attend. Is there going to be a livestream?