PUBLIC BANKING INSTITUTE Public banking is banking operated in the public interest, through institutions owned by the people through their representative governments. Public banks can exist at LATEST – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. INTRO TO PUBLIC BANKING Two banking models have competed for dominance for thousands of years – public and private.In the public model, interest and profits belong to the community, and they are returned to the community. TEAM – PUBLIC BANKING INSTITUTE Ameya Pawar a Senior Fellow with the Economic Security Project and a Senior Adviser to The Academy Group, a Chicago-based social enterprise. He is the former alderman of Chicago’s 47th Ward and the first Asian and Indian American elected to the Chicago City Council and major office in Illinois. INTERNATIONAL ORGANIZATIONS The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. GOVERNANCE – PUBLIC BANKING INSTITUTE Governance. Like any tool, public banks are only as good as the hands that wield them. To benefit people and communities, a public bank must be administered by publicly accountable professionals executing a clear mission of public service. LEGAL ISSUES / LAWS & STATUTES The following list includes existing statutes establishing a Public Bank and other useful related documents. As of July 2020, there are two Public Banks in the United States: the Bank of North Dakota, formed 101 years ago, and the Territorial Bank of American Samoa, formed in 2018. California passed AB857 in 2019 establishing a common charter for the creation of city and regional public banks. HOW TO START A PUBLIC BANK Scott Baker has prepared a document on “How to Start a Public Bank.” (PDF version is at the link.)Quoting from this document: “There are some banking basics books and articles available that explain how to create a small, basic commercial bank, and we will use a three-page section from one of them: Banking Basics (pgs 19-21) from the article Money Basics by Christopher D. Moore, 2003 LEGISLATION & LOCAL GROUPS BY STATE California: 2020: SB-310 (2020) This bill would require the Department of Business Oversight to charter the I-Bank as a depository institution and would authorize the Treasurer, a state officer or employee having control over money belonging to or in the custody of the state, a local agency, as defined, or, upon approval by the board of directors, a quasi-public nonprofit entity to establish a A RADICAL BREAK WITH THE STATUS QUO IS THE MOST SENSIBLE Cabot Square, Carary Wharf, London. Photo by Diliff. Private debt and asset prices are ballooning all over the world. After these debt bubbles burst, predicts Grace Blakeley in the New Statesman, the next bubble to burst will be the carbon bubble, and money plowed into fossil fuel assets will soon be rendered worthless.Blakeley says public banks must be established to weather the PUBLIC BANKING INSTITUTE Public banking is banking operated in the public interest, through institutions owned by the people through their representative governments. Public banks can exist at LATEST – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. INTRO TO PUBLIC BANKING Two banking models have competed for dominance for thousands of years – public and private.In the public model, interest and profits belong to the community, and they are returned to the community. TEAM – PUBLIC BANKING INSTITUTE Ameya Pawar a Senior Fellow with the Economic Security Project and a Senior Adviser to The Academy Group, a Chicago-based social enterprise. He is the former alderman of Chicago’s 47th Ward and the first Asian and Indian American elected to the Chicago City Council and major office in Illinois. INTERNATIONAL ORGANIZATIONS The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. GOVERNANCE – PUBLIC BANKING INSTITUTE Governance. Like any tool, public banks are only as good as the hands that wield them. To benefit people and communities, a public bank must be administered by publicly accountable professionals executing a clear mission of public service. LEGAL ISSUES / LAWS & STATUTES The following list includes existing statutes establishing a Public Bank and other useful related documents. As of July 2020, there are two Public Banks in the United States: the Bank of North Dakota, formed 101 years ago, and the Territorial Bank of American Samoa, formed in 2018. California passed AB857 in 2019 establishing a common charter for the creation of city and regional public banks. HOW TO START A PUBLIC BANK Scott Baker has prepared a document on “How to Start a Public Bank.” (PDF version is at the link.)Quoting from this document: “There are some banking basics books and articles available that explain how to create a small, basic commercial bank, and we will use a three-page section from one of them: Banking Basics (pgs 19-21) from the article Money Basics by Christopher D. Moore, 2003 LEGISLATION & LOCAL GROUPS BY STATE California: 2020: SB-310 (2020) This bill would require the Department of Business Oversight to charter the I-Bank as a depository institution and would authorize the Treasurer, a state officer or employee having control over money belonging to or in the custody of the state, a local agency, as defined, or, upon approval by the board of directors, a quasi-public nonprofit entity to establish a A RADICAL BREAK WITH THE STATUS QUO IS THE MOST SENSIBLE Cabot Square, Carary Wharf, London. Photo by Diliff. Private debt and asset prices are ballooning all over the world. After these debt bubbles burst, predicts Grace Blakeley in the New Statesman, the next bubble to burst will be the carbon bubble, and money plowed into fossil fuel assets will soon be rendered worthless.Blakeley says public banks must be established to weather the LATEST – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. INTRO TO PUBLIC BANKING Two banking models have competed for dominance for thousands of years – public and private.In the public model, interest and profits belong to the community, and they are returned to the community. GOVERNANCE – PUBLIC BANKING INSTITUTE Governance. Like any tool, public banks are only as good as the hands that wield them. To benefit people and communities, a public bank must be administered by publicly accountable professionals executing a clear mission of public service. WHO WE ARE / MISSION / ANNUAL REPORT Public banking is banking in the public interest. And, public banks are tools for creating shared prosperity. Our mission is to inspire, enable, and support Public Bank initiatives, returning control of money and credit to states and communities. OUR STORY – PUBLIC BANKING INSTITUTE As Ellen began writing articles on public banking for her blog, news services began picking up the stories.In 2011, she and a small group of dedicated colleagues founded the nonprofit Public Banking Institute in order to advance the cause of public banking nationally.. PBI has supported numerous state and city public banking initiatives, put on two major national conferences, and has HISTORY OF PUBLIC BANKING Public banking was first introduced in America by the Quakers in the colony of Pennsylvania. Several other colonial governments also established publicly-owned banks and found them to be beneficial.

POSTAL BANKING

The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation.

A PROVEN MODEL

Territorial Bank of American Samoa. In April 2018, the Federal Reserve allowed the Territorial Bank of American Samoa access to the U.S. payments system, nearly two years after the bank first applied.The decision is a boon to the remote U.S. territory in the South Pacific, where more than half of the households are at, near, or below the federal poverty level. THE PUBLIC BANKING ACT STEPS ONTO THE FEDERAL STAGE Just days before the election, a substantial event occurred for public banking as Representatives Rashida Tlaib and Alexandria Ocasio-Cortez introduced The Public Banking Act, HR 8721.. Similar in intent to California’s AB857, the bill would not create a federal public bank but would set up a common framework for states and municipalities pursuing state charters of their own public banks.

ADVISORY BOARD

U.S. Senator. Mike Gravel is an American politician who served as a United States Senator from Alaska from 1969 to 1981. A member of the Democratic Party, he PUBLIC BANKING INSTITUTE The Public Banking Institute was formed in January 2011 and is a national educational non-profit organization working to achieve the implementation of Public Banking at all levels of the American economy and government: local, regional, state, and national. This is not a new or radical idea. LATEST – PUBLIC BANKING INSTITUTE Latest – Public Banking Institute. The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their

implementation.

TEAM – PUBLIC BANKING INSTITUTE Carlos is an accomplished community organizer, union leader, and postal worker. He is a founding team member of Public Bank LA, and PBLA's Director of Community Organizing. In 2017, Carlos was central to organizing the Bring On the Power of a Public Bank town hall forum in Los Angeles that significantly catalyzed Los Angeles' public bank

movement.

GOVERNANCE – PUBLIC BANKING INSTITUTE The Public Bank practices transparency in all facets of accounting, finance, and governance. Key Principle #3: Public Priorities. The Public Bank invests in the public good by funding local priorities and meeting community needs in practical ways. Key Principle #4: Multi-Stakeholder Governance. The Public Bank is accountable to all

stakeholders

LEGAL ISSUES / LAWS & STATUTES California passed AB857 in 2019 establishing a common charter for the creation of city and regional public banks. The Bank of North Dakota was established in 1919. AB-857 (2019) Public Banks. It is the intent of the Legislature that this act authorize the lending of public credit to public banks and authorize public ownership of stock in

public

POSTAL BANKING

The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. INTERNATIONAL ORGANIZATIONS The United States is the anomaly — many other countries have powerful Public Banks that are key players in local and national economic development. Approximately 40 percent of banks globally are publicly owned. These are largely in the BRIC countries – Brazil, Russia, India and China – which also house 40 percent of the global

population.

VIDEOS – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. HOW TO START A PUBLIC BANK Scott Baker has prepared a document on “How to Start a Public Bank.” (PDF version is at the link.)Quoting from this document: “There are some banking basics books and articles available that explain how to create a small, basic commercial bank, and we will use a three-page section from one of them: Banking Basics (pgs 19-21) from the article Money Basics by Christopher D. Moore, 2003 A RADICAL BREAK WITH THE STATUS QUO IS THE MOST SENSIBLE Cabot Square, Carary Wharf, London. Photo by Diliff. Private debt and asset prices are ballooning all over the world. After these debt bubbles burst, predicts Grace Blakeley in the New Statesman, the next bubble to burst will be the carbon bubble, and money plowed into fossil fuel assets will soon be rendered worthless.Blakeley says public banks must be established to weather the PUBLIC BANKING INSTITUTE The Public Banking Institute was formed in January 2011 and is a national educational non-profit organization working to achieve the implementation of Public Banking at all levels of the American economy and government: local, regional, state, and national. This is not a new or radical idea. LATEST – PUBLIC BANKING INSTITUTE Latest – Public Banking Institute. The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their

implementation.

TEAM – PUBLIC BANKING INSTITUTE Carlos is an accomplished community organizer, union leader, and postal worker. He is a founding team member of Public Bank LA, and PBLA's Director of Community Organizing. In 2017, Carlos was central to organizing the Bring On the Power of a Public Bank town hall forum in Los Angeles that significantly catalyzed Los Angeles' public bank

movement.

GOVERNANCE – PUBLIC BANKING INSTITUTE The Public Bank practices transparency in all facets of accounting, finance, and governance. Key Principle #3: Public Priorities. The Public Bank invests in the public good by funding local priorities and meeting community needs in practical ways. Key Principle #4: Multi-Stakeholder Governance. The Public Bank is accountable to all

stakeholders

LEGAL ISSUES / LAWS & STATUTES California passed AB857 in 2019 establishing a common charter for the creation of city and regional public banks. The Bank of North Dakota was established in 1919. AB-857 (2019) Public Banks. It is the intent of the Legislature that this act authorize the lending of public credit to public banks and authorize public ownership of stock in

public

POSTAL BANKING

The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. INTERNATIONAL ORGANIZATIONS The United States is the anomaly — many other countries have powerful Public Banks that are key players in local and national economic development. Approximately 40 percent of banks globally are publicly owned. These are largely in the BRIC countries – Brazil, Russia, India and China – which also house 40 percent of the global

population.

VIDEOS – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. HOW TO START A PUBLIC BANK Scott Baker has prepared a document on “How to Start a Public Bank.” (PDF version is at the link.)Quoting from this document: “There are some banking basics books and articles available that explain how to create a small, basic commercial bank, and we will use a three-page section from one of them: Banking Basics (pgs 19-21) from the article Money Basics by Christopher D. Moore, 2003 A RADICAL BREAK WITH THE STATUS QUO IS THE MOST SENSIBLE Cabot Square, Carary Wharf, London. Photo by Diliff. Private debt and asset prices are ballooning all over the world. After these debt bubbles burst, predicts Grace Blakeley in the New Statesman, the next bubble to burst will be the carbon bubble, and money plowed into fossil fuel assets will soon be rendered worthless.Blakeley says public banks must be established to weather the LATEST – PUBLIC BANKING INSTITUTE Latest – Public Banking Institute. The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their

implementation.

PUBLIC BANKING

Public Banking. The Public Banking Institute was founded in 2010 to further the understanding and implementation of publicly-owned banks. To learn more about public banking, please visit

POSTAL BANKING

The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. WHO WE ARE / MISSION / ANNUAL REPORT Who We Are. The Public Banking Institute (PBI) was formed in January 2011 to spread awareness of the transformative power of public banking and support efforts to create public banks at every level of government. PBI is a 501 (c) (3) non-profit organization and contributions are tax-deductible. Our tax-ID number is 35-2406989. HISTORY OF PUBLIC BANKING Public banking was first introduced in America by the Quakers in the colony of Pennsylvania. Several other colonial governments also established publicly-owned banks and found them to be beneficial. In the 19 th century, the concept was embraced by a number of states. But by the time the Bank of North Dakota was established in the early 20

th

HOW TO START A PUBLIC BANK Scott Baker has prepared a document on “How to Start a Public Bank.” (PDF version is at the link.)Quoting from this document: “There are some banking basics books and articles available that explain how to create a small, basic commercial bank, and we will use a three-page section from one of them: Banking Basics (pgs 19-21) from the article Money Basics by Christopher D. Moore, 2003 PBI LAUNCHES FRIENDS OF PUBLIC BANKING The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation.

A PROVEN MODEL

Territorial Bank of American Samoa. In April 2018, the Federal Reserve allowed the Territorial Bank of American Samoa access to the U.S. payments system, nearly two years after the bank first applied.The decision is a boon to the remote U.S. territory in the South Pacific, where more than half of the households are at, near, or below the federal poverty level. FAQ – PUBLIC BANKING INSTITUTE A: A public bank is a bank operated in the public interest, owned by the people through their representative governments. Public banks can exist at all levels, from local to state to national or even international. Any governmental body which can meet local banking requirements may, theoretically, create such a financial institution. PODCASTS: “IT’S OUR MONEY” Co-hosted by noted public banking author Ellen Brown and PBI’s chair and media guru Walt McRee, each episode of “It’s Our Money” offers new perspectives, deeper information, and articulate interviews with thought leaders and activists fighting for a democratic and just economy. Join Walt, Ellen, and guests who connect the dots on public banking, the restoration of the commons, global PUBLIC BANKING INSTITUTE The Public Banking Institute was formed in January 2011 and is a national educational non-profit organization working to achieve the implementation of Public Banking at all levels of the American economy and government: local, regional, state, and national. This is not a new or radical idea.

PUBLIC BANKING

Public Banking. The Public Banking Institute was founded in 2010 to further the understanding and implementation of publicly-owned banks. To learn more about public banking, please visit the links below. INTRO TO PUBLIC BANKING Public banking was first introduced in America by the Quakers in the colony of Pennsylvania. Several other colonial governments also established publicly-owned banks and found them to be beneficial. In the 19 th century, the concept was embraced by a number of states. But by the time the Bank of North Dakota was established in the early 20

th

LEGAL ISSUES / LAWS & STATUTES California passed AB857 in 2019 establishing a common charter for the creation of city and regional public banks. The Bank of North Dakota was established in 1919. AB-857 (2019) Public Banks. It is the intent of the Legislature that this act authorize the lending of public credit to public banks and authorize public ownership of stock in

public

TEAM – PUBLIC BANKING INSTITUTE Carlos is an accomplished community organizer, union leader, and postal worker. He is a founding team member of Public Bank LA, and PBLA's Director of Community Organizing. In 2017, Carlos was central to organizing the Bring On the Power of a Public Bank town hall forum in Los Angeles that significantly catalyzed Los Angeles' public bank

movement.

INTERNATIONAL ORGANIZATIONS The United States is the anomaly — many other countries have powerful Public Banks that are key players in local and national economic development. Approximately 40 percent of banks globally are publicly owned. These are largely in the BRIC countries – Brazil, Russia, India and China – which also house 40 percent of the global

population.

HOW TO START A PUBLIC BANK Scott Baker has prepared a document on “How to Start a Public Bank.” (PDF version is at the link.)Quoting from this document: “There are some banking basics books and articles available that explain how to create a small, basic commercial bank, and we will use a three-page section from one of them: Banking Basics (pgs 19-21) from the article Money Basics by Christopher D. Moore, 2003 ELLEN BROWN AND MICHAEL HUDSON: “IT’S A WAR” ON THE IT’S The following is a partial transcript from the July 30, 2020 edition of the “It’s Our Money” podcast titled “It’s a War.” Walt McRee: Michael Hudson opened this program with a comment about a virtual war that is underway globally between financial interests and institutions and the public’s interest and needs. PODCASTS: “IT’S OUR MONEY” Co-hosted by noted public banking author Ellen Brown and PBI’s chair and media guru Walt McRee, each episode of “It’s Our Money” offers new perspectives, deeper information, and articulate interviews with thought leaders and activists fighting for a democratic and just economy. Join Walt, Ellen, and guests who connect the dots on public banking, the restoration of the commons, global A RADICAL BREAK WITH THE STATUS QUO IS THE MOST SENSIBLE Cabot Square, Carary Wharf, London. Photo by Diliff. Private debt and asset prices are ballooning all over the world. After these debt bubbles burst, predicts Grace Blakeley in the New Statesman, the next bubble to burst will be the carbon bubble, and money plowed into fossil fuel assets will soon be rendered worthless.Blakeley says public banks must be established to weather the PUBLIC BANKING INSTITUTE The Public Banking Institute was formed in January 2011 and is a national educational non-profit organization working to achieve the implementation of Public Banking at all levels of the American economy and government: local, regional, state, and national. This is not a new or radical idea.

PUBLIC BANKING

Public Banking. The Public Banking Institute was founded in 2010 to further the understanding and implementation of publicly-owned banks. To learn more about public banking, please visit the links below. INTRO TO PUBLIC BANKING Public banking was first introduced in America by the Quakers in the colony of Pennsylvania. Several other colonial governments also established publicly-owned banks and found them to be beneficial. In the 19 th century, the concept was embraced by a number of states. But by the time the Bank of North Dakota was established in the early 20

th

LEGAL ISSUES / LAWS & STATUTES California passed AB857 in 2019 establishing a common charter for the creation of city and regional public banks. The Bank of North Dakota was established in 1919. AB-857 (2019) Public Banks. It is the intent of the Legislature that this act authorize the lending of public credit to public banks and authorize public ownership of stock in

public

TEAM – PUBLIC BANKING INSTITUTE Carlos is an accomplished community organizer, union leader, and postal worker. He is a founding team member of Public Bank LA, and PBLA's Director of Community Organizing. In 2017, Carlos was central to organizing the Bring On the Power of a Public Bank town hall forum in Los Angeles that significantly catalyzed Los Angeles' public bank

movement.

INTERNATIONAL ORGANIZATIONS The United States is the anomaly — many other countries have powerful Public Banks that are key players in local and national economic development. Approximately 40 percent of banks globally are publicly owned. These are largely in the BRIC countries – Brazil, Russia, India and China – which also house 40 percent of the global

population.

HOW TO START A PUBLIC BANK Scott Baker has prepared a document on “How to Start a Public Bank.” (PDF version is at the link.)Quoting from this document: “There are some banking basics books and articles available that explain how to create a small, basic commercial bank, and we will use a three-page section from one of them: Banking Basics (pgs 19-21) from the article Money Basics by Christopher D. Moore, 2003 ELLEN BROWN AND MICHAEL HUDSON: “IT’S A WAR” ON THE IT’S The following is a partial transcript from the July 30, 2020 edition of the “It’s Our Money” podcast titled “It’s a War.” Walt McRee: Michael Hudson opened this program with a comment about a virtual war that is underway globally between financial interests and institutions and the public’s interest and needs. PODCASTS: “IT’S OUR MONEY” Co-hosted by noted public banking author Ellen Brown and PBI’s chair and media guru Walt McRee, each episode of “It’s Our Money” offers new perspectives, deeper information, and articulate interviews with thought leaders and activists fighting for a democratic and just economy. Join Walt, Ellen, and guests who connect the dots on public banking, the restoration of the commons, global A RADICAL BREAK WITH THE STATUS QUO IS THE MOST SENSIBLE Cabot Square, Carary Wharf, London. Photo by Diliff. Private debt and asset prices are ballooning all over the world. After these debt bubbles burst, predicts Grace Blakeley in the New Statesman, the next bubble to burst will be the carbon bubble, and money plowed into fossil fuel assets will soon be rendered worthless.Blakeley says public banks must be established to weather the PUBLIC BANKING INSTITUTE The Public Banking Institute was formed in January 2011 and is a national educational non-profit organization working to achieve the implementation of Public Banking at all levels of the American economy and government: local, regional, state, and national. This is not a new or radical idea.

PUBLIC BANKING

Public Banking. The Public Banking Institute was founded in 2010 to further the understanding and implementation of publicly-owned banks. To learn more about public banking, please visit INTRO TO PUBLIC BANKING Public banking was first introduced in America by the Quakers in the colony of Pennsylvania. Several other colonial governments also established publicly-owned banks and found them to be beneficial. In the 19 th century, the concept was embraced by a number of states. But by the time the Bank of North Dakota was established in the early 20

th

GOVERNANCE – PUBLIC BANKING INSTITUTE The Public Bank practices transparency in all facets of accounting, finance, and governance. Key Principle #3: Public Priorities. The Public Bank invests in the public good by funding local priorities and meeting community needs in practical ways. Key Principle #4: Multi-Stakeholder Governance. The Public Bank is accountable to all

stakeholders

MONEY & BANKING BASICS 1. Money is anything that people will accept in exchange for goods or services, in the belief that they may, in turn, exchange it, now or later, for other goods or services.. Money has taken many forms, including shells, beaver pelts, coins, paper notes, and now accounting entries on a computer. It is an abstract social invention used to facilitate transactions beyond the barter process.

STUDIES & REPORTS

The report suggests, however, that forming a state-owned bank is probably not worth the effort in Massachusetts. The Public Banking Institute respectfully disagrees, documented in a written PBI response to the report’s bulleted conclusions. 2011. Report “Introducing the Massachusetts Partnership Bank” by Devos.org.

POSTAL BANKING

The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. A RADICAL BREAK WITH THE STATUS QUO IS THE MOST SENSIBLE Cabot Square, Carary Wharf, London. Photo by Diliff. Private debt and asset prices are ballooning all over the world. After these debt bubbles burst, predicts Grace Blakeley in the New Statesman, the next bubble to burst will be the carbon bubble, and money plowed into fossil fuel assets will soon be rendered worthless.Blakeley says public banks must be established to weather the

A PROVEN MODEL

Territorial Bank of American Samoa. In April 2018, the Federal Reserve allowed the Territorial Bank of American Samoa access to the U.S. payments system, nearly two years after the bank first applied.The decision is a boon to the remote U.S. territory in the South Pacific, where more than half of the households are at, near, or below the federal poverty level. 2020 – PAGE 10 – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. PUBLIC BANKING INSTITUTE The Public Banking Institute was formed in January 2011 and is a national educational non-profit organization working to achieve the implementation of Public Banking at all levels of the American economy and government: local, regional, state, and national. This is not a new or radical idea. GOVERNANCE – PUBLIC BANKING INSTITUTE The Public Bank practices transparency in all facets of accounting, finance, and governance. Key Principle #3: Public Priorities. The Public Bank invests in the public good by funding local priorities and meeting community needs in practical ways. Key Principle #4: Multi-Stakeholder Governance. The Public Bank is accountable to all

stakeholders

TEAM – PUBLIC BANKING INSTITUTE Carlos is an accomplished community organizer, union leader, and postal worker. He is a founding team member of Public Bank LA, and PBLA's Director of Community Organizing. In 2017, Carlos was central to organizing the Bring On the Power of a Public Bank town hall forum in Los Angeles that significantly catalyzed Los Angeles' public bank

movement.

LEGAL ISSUES / LAWS & STATUTES California passed AB857 in 2019 establishing a common charter for the creation of city and regional public banks. The Bank of North Dakota was established in 1919. AB-857 (2019) Public Banks. It is the intent of the Legislature that this act authorize the lending of public credit to public banks and authorize public ownership of stock in

public

STUDIES & REPORTS

The report suggests, however, that forming a state-owned bank is probably not worth the effort in Massachusetts. The Public Banking Institute respectfully disagrees, documented in a written PBI response to the report’s bulleted conclusions. 2011. Report “Introducing the Massachusetts Partnership Bank” by Devos.org. INTERNATIONAL ORGANIZATIONS The United States is the anomaly — many other countries have powerful Public Banks that are key players in local and national economic development. Approximately 40 percent of banks globally are publicly owned. These are largely in the BRIC countries – Brazil, Russia, India and China – which also house 40 percent of the global

population.

VIDEOS – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. HOW TO START A PUBLIC BANK Scott Baker has prepared a document on “How to Start a Public Bank.” (PDF version is at the link.)Quoting from this document: “There are some banking basics books and articles available that explain how to create a small, basic commercial bank, and we will use a three-page section from one of them: Banking Basics (pgs 19-21) from the article Money Basics by Christopher D. Moore, 2003 ELLEN BROWN AND MICHAEL HUDSON: “IT’S A WAR” ON THE IT’S The following is a partial transcript from the July 30, 2020 edition of the “It’s Our Money” podcast titled “It’s a War.” Walt McRee: Michael Hudson opened this program with a comment about a virtual war that is underway globally between financial interests and institutions and the public’s interest and needs. A RADICAL BREAK WITH THE STATUS QUO IS THE MOST SENSIBLE Cabot Square, Carary Wharf, London. Photo by Diliff. Private debt and asset prices are ballooning all over the world. After these debt bubbles burst, predicts Grace Blakeley in the New Statesman, the next bubble to burst will be the carbon bubble, and money plowed into fossil fuel assets will soon be rendered worthless.Blakeley says public banks must be established to weather the PUBLIC BANKING INSTITUTE The Public Banking Institute was formed in January 2011 and is a national educational non-profit organization working to achieve the implementation of Public Banking at all levels of the American economy and government: local, regional, state, and national. This is not a new or radical idea. GOVERNANCE – PUBLIC BANKING INSTITUTE The Public Bank practices transparency in all facets of accounting, finance, and governance. Key Principle #3: Public Priorities. The Public Bank invests in the public good by funding local priorities and meeting community needs in practical ways. Key Principle #4: Multi-Stakeholder Governance. The Public Bank is accountable to all

stakeholders

TEAM – PUBLIC BANKING INSTITUTE Carlos is an accomplished community organizer, union leader, and postal worker. He is a founding team member of Public Bank LA, and PBLA's Director of Community Organizing. In 2017, Carlos was central to organizing the Bring On the Power of a Public Bank town hall forum in Los Angeles that significantly catalyzed Los Angeles' public bank

movement.

LEGAL ISSUES / LAWS & STATUTES California passed AB857 in 2019 establishing a common charter for the creation of city and regional public banks. The Bank of North Dakota was established in 1919. AB-857 (2019) Public Banks. It is the intent of the Legislature that this act authorize the lending of public credit to public banks and authorize public ownership of stock in

public

STUDIES & REPORTS

The report suggests, however, that forming a state-owned bank is probably not worth the effort in Massachusetts. The Public Banking Institute respectfully disagrees, documented in a written PBI response to the report’s bulleted conclusions. 2011. Report “Introducing the Massachusetts Partnership Bank” by Devos.org. INTERNATIONAL ORGANIZATIONS The United States is the anomaly — many other countries have powerful Public Banks that are key players in local and national economic development. Approximately 40 percent of banks globally are publicly owned. These are largely in the BRIC countries – Brazil, Russia, India and China – which also house 40 percent of the global

population.

VIDEOS – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. HOW TO START A PUBLIC BANK Scott Baker has prepared a document on “How to Start a Public Bank.” (PDF version is at the link.)Quoting from this document: “There are some banking basics books and articles available that explain how to create a small, basic commercial bank, and we will use a three-page section from one of them: Banking Basics (pgs 19-21) from the article Money Basics by Christopher D. Moore, 2003 ELLEN BROWN AND MICHAEL HUDSON: “IT’S A WAR” ON THE IT’S The following is a partial transcript from the July 30, 2020 edition of the “It’s Our Money” podcast titled “It’s a War.” Walt McRee: Michael Hudson opened this program with a comment about a virtual war that is underway globally between financial interests and institutions and the public’s interest and needs. A RADICAL BREAK WITH THE STATUS QUO IS THE MOST SENSIBLE Cabot Square, Carary Wharf, London. Photo by Diliff. Private debt and asset prices are ballooning all over the world. After these debt bubbles burst, predicts Grace Blakeley in the New Statesman, the next bubble to burst will be the carbon bubble, and money plowed into fossil fuel assets will soon be rendered worthless.Blakeley says public banks must be established to weather the LATEST – PUBLIC BANKING INSTITUTE Latest – Public Banking Institute. The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their

implementation.

PUBLIC BANKING

Public Banking. The Public Banking Institute was founded in 2010 to further the understanding and implementation of publicly-owned banks. To learn more about public banking, please visit INTRO TO PUBLIC BANKING Public banking was first introduced in America by the Quakers in the colony of Pennsylvania. Several other colonial governments also established publicly-owned banks and found them to be beneficial. In the 19 th century, the concept was embraced by a number of states. But by the time the Bank of North Dakota was established in the early 20

th

WHO WE ARE / MISSION / ANNUAL REPORT Who We Are. The Public Banking Institute (PBI) was formed in January 2011 to spread awareness of the transformative power of public banking and support efforts to create public banks at every level of government. PBI is a 501 (c) (3) non-profit organization and contributions are tax-deductible. Our tax-ID number is 35-2406989. VIDEOS – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation.

STUDIES & REPORTS

The report suggests, however, that forming a state-owned bank is probably not worth the effort in Massachusetts. The Public Banking Institute respectfully disagrees, documented in a written PBI response to the report’s bulleted conclusions. 2011. Report “Introducing the Massachusetts Partnership Bank” by Devos.org. INTERNATIONAL ORGANIZATIONS The United States is the anomaly — many other countries have powerful Public Banks that are key players in local and national economic development. Approximately 40 percent of banks globally are publicly owned. These are largely in the BRIC countries – Brazil, Russia, India and China – which also house 40 percent of the global

population.

LEGISLATION & LOCAL GROUPS BY STATE California: 2020: SB-310 (2020) This bill would require the Department of Business Oversight to charter the I-Bank as a depository institution and would authorize the Treasurer, a state officer or employee having control over money belonging to or in the custody of the state, a local agency, as defined, or, upon approval by the board of directors, a quasi-public nonprofit entity to establish a 2021 – PAGE 3 – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation.

A PROVEN MODEL

Territorial Bank of American Samoa. In April 2018, the Federal Reserve allowed the Territorial Bank of American Samoa access to the U.S. payments system, nearly two years after the bank first applied.The decision is a boon to the remote U.S. territory in the South Pacific, where more than half of the households are at, near, or below the federal poverty level. PUBLIC BANKING INSTITUTE The Public Banking Institute was formed in January 2011 and is a national educational non-profit organization working to achieve the implementation of Public Banking at all levels of the American economy and government: local, regional, state, and national. This is not a new or radical idea. INTRO TO PUBLIC BANKING Public banking was first introduced in America by the Quakers in the colony of Pennsylvania. Several other colonial governments also established publicly-owned banks and found them to be beneficial. In the 19 th century, the concept was embraced by a number of states. But by the time the Bank of North Dakota was established in the early 20

th

GOVERNANCE – PUBLIC BANKING INSTITUTE The Public Bank practices transparency in all facets of accounting, finance, and governance. Key Principle #3: Public Priorities. The Public Bank invests in the public good by funding local priorities and meeting community needs in practical ways. Key Principle #4: Multi-Stakeholder Governance. The Public Bank is accountable to all

stakeholders

TEAM – PUBLIC BANKING INSTITUTE Carlos is an accomplished community organizer, union leader, and postal worker. He is a founding team member of Public Bank LA, and PBLA's Director of Community Organizing. In 2017, Carlos was central to organizing the Bring On the Power of a Public Bank town hall forum in Los Angeles that significantly catalyzed Los Angeles' public bank

movement.

INTERNATIONAL ORGANIZATIONS The United States is the anomaly — many other countries have powerful Public Banks that are key players in local and national economic development. Approximately 40 percent of banks globally are publicly owned. These are largely in the BRIC countries – Brazil, Russia, India and China – which also house 40 percent of the global

population.

LEGAL ISSUES / LAWS & STATUTES California passed AB857 in 2019 establishing a common charter for the creation of city and regional public banks. The Bank of North Dakota was established in 1919. AB-857 (2019) Public Banks. It is the intent of the Legislature that this act authorize the lending of public credit to public banks and authorize public ownership of stock in

public

HOW TO START A PUBLIC BANK Scott Baker has prepared a document on “How to Start a Public Bank.” (PDF version is at the link.)Quoting from this document: “There are some banking basics books and articles available that explain how to create a small, basic commercial bank, and we will use a three-page section from one of them: Banking Basics (pgs 19-21) from the article Money Basics by Christopher D. Moore, 2003 LEGISLATION & LOCAL GROUPS BY STATE California: 2020: SB-310 (2020) This bill would require the Department of Business Oversight to charter the I-Bank as a depository institution and would authorize the Treasurer, a state officer or employee having control over money belonging to or in the custody of the state, a local agency, as defined, or, upon approval by the board of directors, a quasi-public nonprofit entity to establish a PODCASTS: “IT’S OUR MONEY” Co-hosted by noted public banking author Ellen Brown and PBI’s chair and media guru Walt McRee, each episode of “It’s Our Money” offers new perspectives, deeper information, and articulate interviews with thought leaders and activists fighting for a democratic and just economy. Join Walt, Ellen, and guests who connect the dots on public banking, the restoration of the commons, global A RADICAL BREAK WITH THE STATUS QUO IS THE MOST SENSIBLE Cabot Square, Carary Wharf, London. Photo by Diliff. Private debt and asset prices are ballooning all over the world. After these debt bubbles burst, predicts Grace Blakeley in the New Statesman, the next bubble to burst will be the carbon bubble, and money plowed into fossil fuel assets will soon be rendered worthless.Blakeley says public banks must be established to weather the PUBLIC BANKING INSTITUTE The Public Banking Institute was formed in January 2011 and is a national educational non-profit organization working to achieve the implementation of Public Banking at all levels of the American economy and government: local, regional, state, and national. This is not a new or radical idea. INTRO TO PUBLIC BANKING Public banking was first introduced in America by the Quakers in the colony of Pennsylvania. Several other colonial governments also established publicly-owned banks and found them to be beneficial. In the 19 th century, the concept was embraced by a number of states. But by the time the Bank of North Dakota was established in the early 20

th

GOVERNANCE – PUBLIC BANKING INSTITUTE The Public Bank practices transparency in all facets of accounting, finance, and governance. Key Principle #3: Public Priorities. The Public Bank invests in the public good by funding local priorities and meeting community needs in practical ways. Key Principle #4: Multi-Stakeholder Governance. The Public Bank is accountable to all

stakeholders

TEAM – PUBLIC BANKING INSTITUTE Carlos is an accomplished community organizer, union leader, and postal worker. He is a founding team member of Public Bank LA, and PBLA's Director of Community Organizing. In 2017, Carlos was central to organizing the Bring On the Power of a Public Bank town hall forum in Los Angeles that significantly catalyzed Los Angeles' public bank

movement.

INTERNATIONAL ORGANIZATIONS The United States is the anomaly — many other countries have powerful Public Banks that are key players in local and national economic development. Approximately 40 percent of banks globally are publicly owned. These are largely in the BRIC countries – Brazil, Russia, India and China – which also house 40 percent of the global

population.

LEGAL ISSUES / LAWS & STATUTES California passed AB857 in 2019 establishing a common charter for the creation of city and regional public banks. The Bank of North Dakota was established in 1919. AB-857 (2019) Public Banks. It is the intent of the Legislature that this act authorize the lending of public credit to public banks and authorize public ownership of stock in

public

HOW TO START A PUBLIC BANK Scott Baker has prepared a document on “How to Start a Public Bank.” (PDF version is at the link.)Quoting from this document: “There are some banking basics books and articles available that explain how to create a small, basic commercial bank, and we will use a three-page section from one of them: Banking Basics (pgs 19-21) from the article Money Basics by Christopher D. Moore, 2003 LEGISLATION & LOCAL GROUPS BY STATE California: 2020: SB-310 (2020) This bill would require the Department of Business Oversight to charter the I-Bank as a depository institution and would authorize the Treasurer, a state officer or employee having control over money belonging to or in the custody of the state, a local agency, as defined, or, upon approval by the board of directors, a quasi-public nonprofit entity to establish a PODCASTS: “IT’S OUR MONEY” Co-hosted by noted public banking author Ellen Brown and PBI’s chair and media guru Walt McRee, each episode of “It’s Our Money” offers new perspectives, deeper information, and articulate interviews with thought leaders and activists fighting for a democratic and just economy. Join Walt, Ellen, and guests who connect the dots on public banking, the restoration of the commons, global A RADICAL BREAK WITH THE STATUS QUO IS THE MOST SENSIBLE Cabot Square, Carary Wharf, London. Photo by Diliff. Private debt and asset prices are ballooning all over the world. After these debt bubbles burst, predicts Grace Blakeley in the New Statesman, the next bubble to burst will be the carbon bubble, and money plowed into fossil fuel assets will soon be rendered worthless.Blakeley says public banks must be established to weather the LATEST – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation.

PUBLIC BANKING

Public Banking. The Public Banking Institute was founded in 2010 to further the understanding and implementation of publicly-owned banks. To learn more about public banking, please visit INTRO TO PUBLIC BANKING Public banking was first introduced in America by the Quakers in the colony of Pennsylvania. Several other colonial governments also established publicly-owned banks and found them to be beneficial. In the 19 th century, the concept was embraced by a number of states. But by the time the Bank of North Dakota was established in the early 20

th

GOVERNANCE – PUBLIC BANKING INSTITUTE Governance. Like any tool, public banks are only as good as the hands that wield them. To benefit people and communities, a public bank must be administered by publicly accountable professionals executing a clear mission of public service. MONEY & BANKING BASICS 1. Money is anything that people will accept in exchange for goods or services, in the belief that they may, in turn, exchange it, now or later, for other goods or services.. Money has taken many forms, including shells, beaver pelts, coins, paper notes, and now accounting entries on a computer. It is an abstract social invention used to facilitate transactions beyond the barter process.

STUDIES & REPORTS

The report suggests, however, that forming a state-owned bank is probably not worth the effort in Massachusetts. The Public Banking Institute respectfully disagrees, documented in a written PBI response to the report’s bulleted conclusions. 2011. Report “Introducing the Massachusetts Partnership Bank” by Devos.org.

POSTAL BANKING

The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. 2021 – PAGE 3 – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation.

A PROVEN MODEL

Territorial Bank of American Samoa. In April 2018, the Federal Reserve allowed the Territorial Bank of American Samoa access to the U.S. payments system, nearly two years after the bank first applied.The decision is a boon to the remote U.S. territory in the South Pacific, where more than half of the households are at, near, or below the federal poverty level. A RADICAL BREAK WITH THE STATUS QUO IS THE MOST SENSIBLE Cabot Square, Carary Wharf, London. Photo by Diliff. Private debt and asset prices are ballooning all over the world. After these debt bubbles burst, predicts Grace Blakeley in the New Statesman, the next bubble to burst will be the carbon bubble, and money plowed into fossil fuel assets will soon be rendered worthless.Blakeley says public banks must be established to weather the PUBLIC BANKING INSTITUTE The Public Banking Institute was formed in January 2011 and is a national educational non-profit organization working to achieve the implementation of Public Banking at all levels of the American economy and government: local, regional, state, and national. This is not a new or radical idea. LATEST – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. TEAM – PUBLIC BANKING INSTITUTE Carlos is an accomplished community organizer, union leader, and postal worker. He is a founding team member of Public Bank LA, and PBLA's Director of Community Organizing. In 2017, Carlos was central to organizing the Bring On the Power of a Public Bank town hall forum in Los Angeles that significantly catalyzed Los Angeles' public bank

movement.

LEGAL ISSUES / LAWS & STATUTES California passed AB857 in 2019 establishing a common charter for the creation of city and regional public banks. The Bank of North Dakota was established in 1919. AB-857 (2019) Public Banks. It is the intent of the Legislature that this act authorize the lending of public credit to public banks and authorize public ownership of stock in

public

MONEY & BANKING BASICS 1. Money is anything that people will accept in exchange for goods or services, in the belief that they may, in turn, exchange it, now or later, for other goods or services.. Money has taken many forms, including shells, beaver pelts, coins, paper notes, and now accounting entries on a computer. It is an abstract social invention used to facilitate transactions beyond the barter process. HOW TO START A PUBLIC BANK Scott Baker has prepared a document on “How to Start a Public Bank.” (PDF version is at the link.)Quoting from this document: “There are some banking basics books and articles available that explain how to create a small, basic commercial bank, and we will use a three-page section from one of them: Banking Basics (pgs 19-21) from the article Money Basics by Christopher D. Moore, 2003 LEGISLATION & LOCAL GROUPS BY STATE California: 2020: SB-310 (2020) This bill would require the Department of Business Oversight to charter the I-Bank as a depository institution and would authorize the Treasurer, a state officer or employee having control over money belonging to or in the custody of the state, a local agency, as defined, or, upon approval by the board of directors, a quasi-public nonprofit entity to establish a

A PROVEN MODEL

Territorial Bank of American Samoa. In April 2018, the Federal Reserve allowed the Territorial Bank of American Samoa access to the U.S. payments system, nearly two years after the bank first applied.The decision is a boon to the remote U.S. territory in the South Pacific, where more than half of the households are at, near, or below the federal poverty level. ELLEN BROWN AND MICHAEL HUDSON: “IT’S A WAR” ON THE IT’S The following is a partial transcript from the July 30, 2020 edition of the “It’s Our Money” podcast titled “It’s a War.” Walt McRee: Michael Hudson opened this program with a comment about a virtual war that is underway globally between financial interests and institutions and the public’s interest and needs. WELCOME DENNIS ORTBLAD! The Public Banking Institute is honored again this week to have another new member join our Board of Directors, Dennis Ortblad. Dennis saw first hand the importance of publicly owned banks in strengthening economic development when he was stationed as a diplomat in Germany

and Japan.

PUBLIC BANKING INSTITUTE The Public Banking Institute was formed in January 2011 and is a national educational non-profit organization working to achieve the implementation of Public Banking at all levels of the American economy and government: local, regional, state, and national. This is not a new or radical idea. LATEST – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. TEAM – PUBLIC BANKING INSTITUTE Carlos is an accomplished community organizer, union leader, and postal worker. He is a founding team member of Public Bank LA, and PBLA's Director of Community Organizing. In 2017, Carlos was central to organizing the Bring On the Power of a Public Bank town hall forum in Los Angeles that significantly catalyzed Los Angeles' public bank

movement.

LEGAL ISSUES / LAWS & STATUTES California passed AB857 in 2019 establishing a common charter for the creation of city and regional public banks. The Bank of North Dakota was established in 1919. AB-857 (2019) Public Banks. It is the intent of the Legislature that this act authorize the lending of public credit to public banks and authorize public ownership of stock in

public

MONEY & BANKING BASICS 1. Money is anything that people will accept in exchange for goods or services, in the belief that they may, in turn, exchange it, now or later, for other goods or services.. Money has taken many forms, including shells, beaver pelts, coins, paper notes, and now accounting entries on a computer. It is an abstract social invention used to facilitate transactions beyond the barter process. HOW TO START A PUBLIC BANK Scott Baker has prepared a document on “How to Start a Public Bank.” (PDF version is at the link.)Quoting from this document: “There are some banking basics books and articles available that explain how to create a small, basic commercial bank, and we will use a three-page section from one of them: Banking Basics (pgs 19-21) from the article Money Basics by Christopher D. Moore, 2003 LEGISLATION & LOCAL GROUPS BY STATE California: 2020: SB-310 (2020) This bill would require the Department of Business Oversight to charter the I-Bank as a depository institution and would authorize the Treasurer, a state officer or employee having control over money belonging to or in the custody of the state, a local agency, as defined, or, upon approval by the board of directors, a quasi-public nonprofit entity to establish a

A PROVEN MODEL

Territorial Bank of American Samoa. In April 2018, the Federal Reserve allowed the Territorial Bank of American Samoa access to the U.S. payments system, nearly two years after the bank first applied.The decision is a boon to the remote U.S. territory in the South Pacific, where more than half of the households are at, near, or below the federal poverty level. ELLEN BROWN AND MICHAEL HUDSON: “IT’S A WAR” ON THE IT’S The following is a partial transcript from the July 30, 2020 edition of the “It’s Our Money” podcast titled “It’s a War.” Walt McRee: Michael Hudson opened this program with a comment about a virtual war that is underway globally between financial interests and institutions and the public’s interest and needs. WELCOME DENNIS ORTBLAD! The Public Banking Institute is honored again this week to have another new member join our Board of Directors, Dennis Ortblad. Dennis saw first hand the importance of publicly owned banks in strengthening economic development when he was stationed as a diplomat in Germany

and Japan.

LATEST – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation.

PUBLIC BANKING

Public Banking. The Public Banking Institute was founded in 2010 to further the understanding and implementation of publicly-owned banks. To learn more about public banking, please visit MONEY & BANKING BASICS 1. Money is anything that people will accept in exchange for goods or services, in the belief that they may, in turn, exchange it, now or later, for other goods or services.. Money has taken many forms, including shells, beaver pelts, coins, paper notes, and now accounting entries on a computer. It is an abstract social invention used to facilitate transactions beyond the barter process. OUR STORY – PUBLIC BANKING INSTITUTE Our Story – Public Banking Institute. Our story began in 2008 when the excessive and careless practices of big Wall Street banks plunged the United States (and much of the world’s economy) into recession. While most Wall Street institutions were bailed out by the US government, cities, states, and working Americans were left to fend

for

WHO WE ARE / MISSION / ANNUAL REPORT Who We Are. The Public Banking Institute (PBI) was formed in January 2011 to spread awareness of the transformative power of public banking and support efforts to create public banks at every level of government. PBI is a 501 (c) (3) non-profit organization and contributions are tax-deductible. Our tax-ID number is 35-2406989. HISTORY OF PUBLIC BANKING Public banking was first introduced in America by the Quakers in the colony of Pennsylvania. Several other colonial governments also established publicly-owned banks and found them to be beneficial. In the 19 th century, the concept was embraced by a number of states. But by the time the Bank of North Dakota was established in the early 20

th

STUDIES & REPORTS

The report suggests, however, that forming a state-owned bank is probably not worth the effort in Massachusetts. The Public Banking Institute respectfully disagrees, documented in a written PBI response to the report’s bulleted conclusions. 2011. Report “Introducing the Massachusetts Partnership Bank” by Devos.org. INTERNATIONAL ORGANIZATIONS The United States is the anomaly — many other countries have powerful Public Banks that are key players in local and national economic development. Approximately 40 percent of banks globally are publicly owned. These are largely in the BRIC countries – Brazil, Russia, India and China – which also house 40 percent of the global

population.

QUOTES – PUBLIC BANKING INSTITUTE Both are promises to pay, but one fattens the usurer and the other helps the People.” —Thomas A. Edison. “The Federal Reserve bank buys government bonds without one penny” —Congressman Wright Patman, Congressional Record, Sept 30, 1941. “Some people think the Federal Reserve Banks are the United States government’s

institutions.

SUGGESTED READING

The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. PUBLIC BANKING INSTITUTE The Public Banking Institute was formed in January 2011 and is a national educational non-profit organization working to achieve the implementation of Public Banking at all levels of the American economy and government: local, regional, state, and national. This is not a new or radical idea. LATEST – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. TEAM – PUBLIC BANKING INSTITUTEELLEN BROWN PUBLIC BANKING INSTITUTEPUBLIC BANKING INSTITUTEPUBLIC BANKING ORGCOLORADO PUBLIC BANKING BLOGSPOTWHAT IS PUBLIC BANKINGELLEN BROWN PUBLIC BANKING Carlos is an accomplished community organizer, union leader, and postal worker. He is a founding team member of Public Bank LA, and PBLA's Director of Community Organizing. In 2017, Carlos was central to organizing the Bring On the Power of a Public Bank town hall forum in Los Angeles that significantly catalyzed Los Angeles' public bank

movement.

LEGAL ISSUES / LAWS & STATUTES California passed AB857 in 2019 establishing a common charter for the creation of city and regional public banks. The Bank of North Dakota was established in 1919. AB-857 (2019) Public Banks. It is the intent of the Legislature that this act authorize the lending of public credit to public banks and authorize public ownership of stock in

public

MONEY & BANKING BASICS 1. Money is anything that people will accept in exchange for goods or services, in the belief that they may, in turn, exchange it, now or later, for other goods or services.. Money has taken many forms, including shells, beaver pelts, coins, paper notes, and now accounting entries on a computer. It is an abstract social invention used to facilitate transactions beyond the barter process. HOW TO START A PUBLIC BANK Scott Baker has prepared a document on “How to Start a Public Bank.” (PDF version is at the link.)Quoting from this document: “There are some banking basics books and articles available that explain how to create a small, basic commercial bank, and we will use a three-page section from one of them: Banking Basics (pgs 19-21) from the article Money Basics by Christopher D. Moore, 2003 LEGISLATION & LOCAL GROUPS BY STATE California: 2020: SB-310 (2020) This bill would require the Department of Business Oversight to charter the I-Bank as a depository institution and would authorize the Treasurer, a state officer or employee having control over money belonging to or in the custody of the state, a local agency, as defined, or, upon approval by the board of directors, a quasi-public nonprofit entity to establish a

A PROVEN MODEL

Territorial Bank of American Samoa. In April 2018, the Federal Reserve allowed the Territorial Bank of American Samoa access to the U.S. payments system, nearly two years after the bank first applied.The decision is a boon to the remote U.S. territory in the South Pacific, where more than half of the households are at, near, or below the federal poverty level. ELLEN BROWN AND MICHAEL HUDSON: “IT’S A WAR” ON THE IT’S The following is a partial transcript from the July 30, 2020 edition of the “It’s Our Money” podcast titled “It’s a War.” Walt McRee: Michael Hudson opened this program with a comment about a virtual war that is underway globally between financial interests and institutions and the public’s interest and needs. WELCOME DENNIS ORTBLAD! The Public Banking Institute is honored again this week to have another new member join our Board of Directors, Dennis Ortblad. Dennis saw first hand the importance of publicly owned banks in strengthening economic development when he was stationed as a diplomat in Germany

and Japan.

PUBLIC BANKING INSTITUTE The Public Banking Institute was formed in January 2011 and is a national educational non-profit organization working to achieve the implementation of Public Banking at all levels of the American economy and government: local, regional, state, and national. This is not a new or radical idea. LATEST – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. TEAM – PUBLIC BANKING INSTITUTEELLEN BROWN PUBLIC BANKING INSTITUTEPUBLIC BANKING INSTITUTEPUBLIC BANKING ORGCOLORADO PUBLIC BANKING BLOGSPOTWHAT IS PUBLIC BANKINGELLEN BROWN PUBLIC BANKING Carlos is an accomplished community organizer, union leader, and postal worker. He is a founding team member of Public Bank LA, and PBLA's Director of Community Organizing. In 2017, Carlos was central to organizing the Bring On the Power of a Public Bank town hall forum in Los Angeles that significantly catalyzed Los Angeles' public bank

movement.

LEGAL ISSUES / LAWS & STATUTES California passed AB857 in 2019 establishing a common charter for the creation of city and regional public banks. The Bank of North Dakota was established in 1919. AB-857 (2019) Public Banks. It is the intent of the Legislature that this act authorize the lending of public credit to public banks and authorize public ownership of stock in

public

MONEY & BANKING BASICS 1. Money is anything that people will accept in exchange for goods or services, in the belief that they may, in turn, exchange it, now or later, for other goods or services.. Money has taken many forms, including shells, beaver pelts, coins, paper notes, and now accounting entries on a computer. It is an abstract social invention used to facilitate transactions beyond the barter process. HOW TO START A PUBLIC BANK Scott Baker has prepared a document on “How to Start a Public Bank.” (PDF version is at the link.)Quoting from this document: “There are some banking basics books and articles available that explain how to create a small, basic commercial bank, and we will use a three-page section from one of them: Banking Basics (pgs 19-21) from the article Money Basics by Christopher D. Moore, 2003 LEGISLATION & LOCAL GROUPS BY STATE California: 2020: SB-310 (2020) This bill would require the Department of Business Oversight to charter the I-Bank as a depository institution and would authorize the Treasurer, a state officer or employee having control over money belonging to or in the custody of the state, a local agency, as defined, or, upon approval by the board of directors, a quasi-public nonprofit entity to establish a

A PROVEN MODEL

Territorial Bank of American Samoa. In April 2018, the Federal Reserve allowed the Territorial Bank of American Samoa access to the U.S. payments system, nearly two years after the bank first applied.The decision is a boon to the remote U.S. territory in the South Pacific, where more than half of the households are at, near, or below the federal poverty level. ELLEN BROWN AND MICHAEL HUDSON: “IT’S A WAR” ON THE IT’S The following is a partial transcript from the July 30, 2020 edition of the “It’s Our Money” podcast titled “It’s a War.” Walt McRee: Michael Hudson opened this program with a comment about a virtual war that is underway globally between financial interests and institutions and the public’s interest and needs. WELCOME DENNIS ORTBLAD! The Public Banking Institute is honored again this week to have another new member join our Board of Directors, Dennis Ortblad. Dennis saw first hand the importance of publicly owned banks in strengthening economic development when he was stationed as a diplomat in Germany

and Japan.

LATEST – PUBLIC BANKING INSTITUTE The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation.

PUBLIC BANKING

Public Banking. The Public Banking Institute was founded in 2010 to further the understanding and implementation of publicly-owned banks. To learn more about public banking, please visit MONEY & BANKING BASICS 1. Money is anything that people will accept in exchange for goods or services, in the belief that they may, in turn, exchange it, now or later, for other goods or services.. Money has taken many forms, including shells, beaver pelts, coins, paper notes, and now accounting entries on a computer. It is an abstract social invention used to facilitate transactions beyond the barter process. OUR STORY – PUBLIC BANKING INSTITUTE Our Story – Public Banking Institute. Our story began in 2008 when the excessive and careless practices of big Wall Street banks plunged the United States (and much of the world’s economy) into recession. While most Wall Street institutions were bailed out by the US government, cities, states, and working Americans were left to fend

for

WHO WE ARE / MISSION / ANNUAL REPORT Who We Are. The Public Banking Institute (PBI) was formed in January 2011 to spread awareness of the transformative power of public banking and support efforts to create public banks at every level of government. PBI is a 501 (c) (3) non-profit organization and contributions are tax-deductible. Our tax-ID number is 35-2406989. HISTORY OF PUBLIC BANKING Public banking was first introduced in America by the Quakers in the colony of Pennsylvania. Several other colonial governments also established publicly-owned banks and found them to be beneficial. In the 19 th century, the concept was embraced by a number of states. But by the time the Bank of North Dakota was established in the early 20

th

STUDIES & REPORTS

The report suggests, however, that forming a state-owned bank is probably not worth the effort in Massachusetts. The Public Banking Institute respectfully disagrees, documented in a written PBI response to the report’s bulleted conclusions. 2011. Report “Introducing the Massachusetts Partnership Bank” by Devos.org. INTERNATIONAL ORGANIZATIONS The United States is the anomaly — many other countries have powerful Public Banks that are key players in local and national economic development. Approximately 40 percent of banks globally are publicly owned. These are largely in the BRIC countries – Brazil, Russia, India and China – which also house 40 percent of the global

population.

QUOTES – PUBLIC BANKING INSTITUTE Both are promises to pay, but one fattens the usurer and the other helps the People.” —Thomas A. Edison. “The Federal Reserve bank buys government bonds without one penny” —Congressman Wright Patman, Congressional Record, Sept 30, 1941. “Some people think the Federal Reserve Banks are the United States government’s

institutions.

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The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation.

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LATEST NEWS

Can public banks rescue distressed states? Virtual public banking Town

Halls this week

Latest podcast: Michael Shuman explains how local investing is key to

our recovery

Video spotlight: Colorado Public Banking Town Hall PBI experts: How state officials can save Main Street in the face of COVID-19 with three urgent actions PBI’s Open Letter to Congress: A “Critical-Care” Bailout for Main Street in the Face of COVID-19 Former U.S. Treasury analyst: Solution to coronavirus crisis is to reconstitute the Federal Reserve as a public utility How Germany’s public bank will keep the economy afloat during the coronavirus outbreak Fed drops interest rates to zero, eliminates reserve requirements, and triggers a market free fall Ellen Brown: The Fed’s baffling response to the coronavirus

explained

Hawaii State House passes a bill to review state laws for establishing

a public bank

WHAT IS PUBLIC BANKING? Public banking is banking operated in the public interest, through institutions owned by the people through their representative governments. Public banks can exist at all levels, from local to state to national or even international. Any governmental body which can meet local banking requirements may, theoretically, create such a financial institution. Public banking is distinguished from private banking in that its mandate begins with the public’s interest. Privately-owned banks, by contrast, have shareholders who generally seek short-term profits as their highest priority. Public banks are able to reduce taxes within their jurisdictions, because their profits are returned to the general fund of the public entity. The costs of public projects undertaken by governmental bodies are also greatly reduced, because public banks do not need to charge interest to themselves. Eliminating interest has been shown to reduce the cost of such projects, on average, by 50%.

WHY PUBLIC BANKS?

Today, cities and states put their money in Wall Street banks, allowing those banks to leverage our public funds in order to dominate the financialized speculative economy rather than reinvesting them in our communities. At the same time, cities and states borrow money from Wall Street institutions and bondholders at high interest rates and pay large fees to keep money in their banks. This is not a cost-effective way to do business. Cities and states could be keeping their public dollars and leveraging them for their own community

needs.

With city and state-owned banks, we cut out Wall Street middlemen. Our community’s cash stays home to benefit us! Bank fees are eliminated, interest costs drop, and public bank profits are reinvested into our

communities.

Public banks can help us create the communities we want. We want parks, good roads, safe bridges, clean energy, and housing we can afford. We want lower interest rates for local small business loans, local control of our tax dollars, investment in our local communities, and ethical and transparent financial institutions managing our public funds.  Public banks can be the financial engine that makes this happen for our communities. TEN KEY FACTS OF PUBLIC BANKING

PUBLIC BANKS:

* Are owned by the people of a state, city, community, or nation; * Serve as the depository for local government funds (city or state

taxes, fees, etc.);

* Are required to benefit the public by serving local community

needs;

* Can save state and local governments millions or even billions of dollars, by cutting out middlemen and private shareholders, eliminating fees, and financing projects at lower interest rates; * Reinvest bank profits into the community, providing a new source of income for cities and states and a source of funding for projects such as infrastructure, renewable energy and affordable housing; * Are run, not by politicians, but by qualified bankers serving a

public mission;

* Provide accountability and transparency to the public for bank decisions, avoiding the risks of Wall Street’s speculative gambling; * Create new jobs and spur economic growth by supporting local small

businesses;

* Partner with and support rather than competing with local

community banks;

* Can lend during times of stress and crisis, helping to sustain a healthy local economy. Sign up for Newsletter

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Listen to It's Our Money!

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JOIN THE PUBLIC BANKING MOVEMENT... To highlight the inspiring work and surging momentum of the nationwide public banking movement, PBI is proud to launch this short video that incorporates footage and photos collected from across the country. With it, we recognize the incredible achievements that advocates and elected officials have accomplished together and hope to inspire more support for public ownership of our financial institutions. PUBLIC BANKING MADE EASY... Publicly-owned banks cut out Wall Street middlemen. Our community’s cash stays home to benefit us! Bank fees are eliminated, interest costs drop, and public bank profits are reinvested into our

communities.

PUBLIC BANKING IS A GAME-CHANGING SOLUTION. The Story of Stuff project put out this short video a few years ago that is just as urgent today. The Story of Solutions explores how we need to reorient ourselves to an entirely new goal if we want to create a just economy. We need to change the point of the “game.” Public Banking is exactly this kind of “game changing solution.” A Public Bank gives people more power, lessens the wealth gap, and brings democracy to our money. It is time to build the solutions … solutions that will change the entire game. MOMENTUM IS BUILDING... Across the nation, more than 25 initiatives for public banks are actively being pursued, by progressives and conservatives, 30 of 50 states have proposed legislation in support of publicly-owned banks, and over 50 organizations are promoting public banks. Local & State Efforts

ABOUT PBI

The Public Banking Institute was formed in January 2011 and is a national educational non-profit organization working to achieve the implementation of Public Banking

at

all levels of the American economy and government: local, regional, state, and national. This is not a new or radical idea. On the contrary, it is a solid, time-tested model with abundant successful examples of Public Banking around the world , including state and national banks. But currently there is only one such bank (the Bank

of North Dakota

)

in the United States. Our current private banking system has presided over the greatest concentration of wealth in human history, while the vast majority of America and the world has endured stagnant wages, declining wealth, and recurring recessions. In contrast, Public Banks empower small businesses, students, homeowners, city and state governments, and community banks to prosper and thrive by banking for the common good over the long term, and making low-cost credit available where it is needed in the real economy. PBI IS AT THE FOREFRONT OF THE PUBLIC BANKING MOVEMENT IN THE 21ST CENTURY. WE ARE PIONEERING SOMETHING TRULY REVOLUTIONARY: A BANKING AND MONETARY SYSTEM THAT SUPPORTS SUSTAINABLE PROSPERITY FOR _ALL OF

US_.

_Photo caption: PBI Retreat, Colorado, March 2018._

LEARN

WHAT IS MONEY? HOW IS IT CREATED? Learn the basics of money and banking, as well as good references on

the topic. Here

WHAT IS PUBLIC BANKING? Public banking, or banking in the public interest, is provided. Here THE PROBLEM OF INTEREST The problem of interest and unsustainabililty, and its mechanism as a transfer of wealth is provided. Here

ENABLE

FEASIBILITY STUDIES

Reports on the feasibility and benefit of public banking, at the municipal, state, and national levels, can be found here. Here LEGAL ISSUES & LEGISLATION Legal issues and proposed legislation for public banks are provided.

Here

HOW TO START A PUBLIC BANK Details regarding capitalization, balance sheets, governance, etc.,

are provided. Here

ADVOCATE

VIDEOS

VIdeos on public banking and monetary reform for learning and sharing

are provided. Here

BROCHURES & MEMES

Spread awareness of public banking with brochures, images, & memes.

Here

HOW CAN I GET INVOLVED? Advocate, enable, and support public banking! Here The Public Banking Institute (PBI) is a non-partisan think-tank, research, advocacy, and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation.

RECENT POSTS

* Can public banks rescue distressed states? Virtual public banking Town Halls this week

May 5, 2020

* Latest podcast: Michael Shuman explains how local investing is key

to our recovery

May 5, 2020

* Video spotlight: Colorado Public Banking Town Hall

May 5, 2020

* PBI experts: How state officials can save Main Street in the face of COVID-19 with three urgent actions

April 22, 2020

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