The New Move Towards State Banks Has Begun!

28 Feb

In States across the nation the new move toward State Banks has begun… From Washington to Vermont, Massachusetts to Oregon, California to New Mexico and beyond, the word about the power and success of the North Dakota State Bank is getting around and people are stepping up to take action and bring those banks into the reality of their own State systems.

People are figuring out that a State Bank which is run for the public, for the people instead of as a private instrument of profit for private bankers has more power to do good for the people – and that it IS possible to have banks that are not simply pawns of the power elite but that are instruments of the people. This is great news for the people of those states who are ready for some much needed relief from the abusive private banking system which has brought us to the verge of economic collapse.

Here is the latest from Ellen Brown’s Public Banking Blog site:

HB 3162 Bill, Authorizing the Creation of a State Bank, Introduced to the Washington State Legislature

from Public Banking by Ellen Brown

On February 1, 2010, bill HB 3162, which authorizes the creation of a state bank, was introduced to the Washington State legislature.

Sponsors: Representatives Hasegawa, Hudgins, Chase, Simpson, Dickerson, Goodman

A public hearing has been scheduled next Tuesday, March 2, 2010, for HB 3162. There has been so much interest in this idea that Chair Kirby of the FI & I committee has scheduled a special work session on the bill.

Details for Public Hearing:
Financial Institutions & Insurance Committee – Tuesday, 03/02/10 8:00 am
House Hearing Room D
John L. O’Brien Building
Olympia, WA

Read about the bill here, the text of the original bill here, the “bill digest” here, and the “bill analysis” here.


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