20 States in the USA are moving to create State owned Banks owned by and accountable to their residents. These banks could provide zero interest loans for public projects and low interest loans to consumers. In Canada, we are moving in the opposite direction. Ontario closed its provincially owned Ontario Government Savings Bank that was loaning the province money at rates much lower than the private banks and now borrow at higher rates from them. And yet in Alberta, the largest financial institution in the Province is owned by the citizens and is saves them $Billions every year. publicbankinginstitute.org/
Posted on: Tue, 04 Mar 2014 01:08:01 +0000