Create state and potentially city/county banks
This petition had 112 supporters
Since the 2008 economic collapse, the economy has continued to be a sticking point. Although many factors have been involved with our economic collapse and recovery, there is an overriding factor that needs to be resolved.
First, let’s frame the situation.
There are certain commodities every human needs to survive. For example, water. If we take a step back, we see our water industry is privatized and also a public utility. Therefore, when people want or need water, they are not bound to purchase a $2 privatized water bottle every time they need to fulfill this need.
Money is another commodity every human needs to survive.
With our money system, if we take a step back, we see our money system is fully privatized.
Having our money system fully privatized means this highly unique commodity is guided by shareholder interests, verses what is necessarily best for the public good.
There is a somewhat simple path out of this situation:
Public banking is encouraging our states to form their own banks. Doing this is absolutely constitutional, and can accomplish many tasks. Here are some examples:
1) Our national and state governments can fund their own projects (infrastructure etc.) without draining the American taxpayer.
2) Our government can act as a lending support to citizens not being served by private banking services without accruing debt or burdening tax payers.
3) Portions of our money supply can be monitored by needed measures of transparency and accountability.
We do not need to alter the current system for these banks to exist. On the contrary, these banks easily co-exist and work in conjunction with existing institutions.
Forming state-owned banks is a way to reduce taxes while helping to increasing prosperity for South Carolina and its citizens.
Together, we can continue to create solutions that work for the greatest good.
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