Help the Terminator save California

To balance its budget, fund its obligations and keep from having to raise taxes, California should follow the model of North Dakota and Charter its own state bank. 

North Dakota has had a state bank, which by charter, must contain all the state's funds, and which, Ellen Brown tells us, "was established by the legislature in 1919 to free farmers and small businessmen from the clutches of out-of-state bankers and railroad men."  The bank has met its purpose fabulously. Today, North Dakota is running its biggest surplus in its history. 

Bank capital reserve requirements are only 8%.  If California used 8% as a baseline, then the state could deposit its expected $128 billion in revenues this year into the state bank, and have over 1.28 Trillion to loan!  The state's banks would howl.  Let them.  They set the rules, now they have to play by them.  Besides, who do you trust more to fund a bank: the depositors and borrowers of the Wells Fargos of California, or the citizens of the state who must pay taxes every year? 

California has never defaulted on its obligations; Wells Fargo needed bailout money.

If this new state bank – which could operate as a non-profit, with no shareholders to please – were to distribute its fund to the state's smaller banks, in order to issue new loans to strapped homeowners at, say an inflation-realistic rate of 3%, still far below current bank rates of over 5% on 30-year mortgages, they could refinance defaulting homeowners, fund startups, and even fund general government expenditures, all without paying a dime in interest to private bankers!

Schwarzenegger must balance the budget under the state constitution.  But, there is another option besides crippling taxes and devastating spending cuts.  There is a way to balance the budget, create a surplus, and tell the high interest charging banks 'Hasta La Vista, Baby.'

CREATE A STATE BANK!

 

  • Report close

    You must be signed in to report content.

Petition Text

Terminate the Debt: Start a State Bank for California

Dear Representative

[Your name]

  • Jason J Green Jason J Green   Spotsylvania, VA
    Sent letter to Jerry Brown (Attorney General)
    Jan 29
  • Paul Weiss Paul Weiss   Fort Lauderdale, FL
    Sent letter to Jerry Brown (Attorney General)
    Jan 25
  • Laura Wells for Governor Laura Wells for Governor   Oakland, CA
    Sent letter to Hon. Nancy Skinner , Loni Hancock , Hon. Sandre Swanson and Jerry Brown (Attorney General)
    Jan 24
  • Samuel Zizzo Samuel Zizzo   Corning, CA
    Sent letter to Wally Herger , Dianne Feinstein , Barbara Boxer , Barack Obama , Arnold Schwarzenegger , Ted Gaines , Hon. Wes Chesbro , Hon. Jim Nielsen , Hon. Dan Logue , Arnold Schwarzenegger (Governor) , Jerry Brown (Attorney General) and Barbara Boxer (Senator)
    Jan 23
  • Lara Nunes Lara Nunes   Pensacola, FL
    Sent letter to Terry Everett , Jeff Miller , Bill Nelson , Barack Obama , Arnold Schwarzenegger , Hon. Wes Chesbro , Hon. Jim Nielsen , Hon. Dan Logue , George LeMieux , Arnold Schwarzenegger (Governor) , Jerry Brown (Attorney General) and Barbara Boxer (Senator)
    Jan 20
  • Soodle Billy Soodle Billy   Co.Dublin, Ireland
    Sent letter to George Miller , Barack Obama , Sam Brownback , Pat Roberts , Arnold Schwarzenegger , Ted Gaines , Hon. Wes Chesbro , Hon. Jim Nielsen , Hon. Dan Logue , Arnold Schwarzenegger (Governor) , Jerry Brown (Attorney General) and Barbara Boxer (Senator)
    Jan 20
  • slbutterfly . slbutterfly .   Tucson, AZ
    Sent letter to Gabrielle Giffords , John McCain , Jon Kyl , Barack Obama , Arnold Schwarzenegger , Ted Gaines , Hon. Wes Chesbro , Hon. Jim Nielsen , Hon. Dan Logue , Arnold Schwarzenegger (Governor) , Jerry Brown (Attorney General) and Barbara Boxer (Senator)
    Jan 20
  • neokuji . neokuji .   Tucson, AZ
    Sent letter to Gabrielle Giffords , John McCain , Jon Kyl , Barack Obama , Arnold Schwarzenegger , Ted Gaines , Hon. Wes Chesbro , Hon. Jim Nielsen , Hon. Dan Logue , Arnold Schwarzenegger (Governor) , Jerry Brown (Attorney General) and Barbara Boxer (Senator)
    Jan 20
  • Julie Veile Julie Veile   Bloomington, IL
    Sent letter to Vic Snyder , Dick Durbin , Barack Obama , Arnold Schwarzenegger , Timothy Johnson , Debbie Halvorson , Roland Burris , Hon. Wes Chesbro , Hon. Jim Nielsen , Arnold Schwarzenegger (Governor) , Jerry Brown (Attorney General) and Barbara Boxer (Senator)
    Jan 19
  • Cherokee Fred Jesus   Carrollton, GA
    Sent letter to Phil Gingrey , Lynn Westmoreland , Johnny Isakson , Saxby Chambliss , Barack Obama , Arnold Schwarzenegger , Hon. Wes Chesbro , Hon. Jim Nielsen , Hon. Dan Logue , Arnold Schwarzenegger (Governor) , Jerry Brown (Attorney General) and Barbara Boxer (Senator)
    Jan 19

Sign the Petition

569 Signatures
Goal: 5,000
12%
  • Intl
  • By signing, you accept Change.org's terms of service and will receive periodic alerts related to this action.

This petition sends letters to an individual's specific elected officials based on their address. You must live in the U.S. to sign this petition.

Grab a widget to embed this petition on your site.
close

This user's Profile page is not public. They have restricted it to only their friends.

Already a Member?

Create an Account

You must create a Change.org account to complete this action. If you already have an account click here.

  Cancel