Public banks!! Is there anything scarier?

[Saltwater60]

This scares me more than just about anything recently. How could anyone think this is a good idea?

Los Angeles could be 1st major U.S. city to get a public bank | abc7.com

Los%20Angeles%20City%20Council%20voted%20unanimously%20to%20take%20the%20first%20steps%20in%20seeing%20the%20viability%20of%20a%20public%20bank.

abc7.com

 

[Jmac00]

that is going to be a HARD NO

 

[Acer-m14]

" A public bank would be owned and operated by the city. "

nope nodda know fking way ..

 

[Deplorable Me]

" A public bank would be owned and operated by the city. "

nope nodda know fking way ..

AKA: Socialized.

 

[TEOTWAWKI inc.]

So, they will be seizing banks?

 

[spat]

I'll let you guys in on a secret. You know where the banks bank ?

It's this squirrelly seni-public institution called the federal reserve.

Imagine all the corruption and monopoly power of government, and all the close oversight of a black budget defense contractor.

Oh, and they literally control *all* the money.

 

[Saltwater60]

So, they will be seizing banks?

Sounds like they plan to create their own, but they want to do it because traditional banks cost too much to borrow money from.
So in a sense no they won’t seize banks, but they will put them out of business potentially and expand the public footprint option. Same thing?

 

[spat]

Sounds like they plan to create their own, but they want to do it because traditional banks cost too much to borrow money from.
So in a sense no they won’t seize banks, but they will put them out of business potentially and expand the public footprint option. Same thing?

LOL @ it costs them too much to borrow.

It costs too much to borrow because the banks doubt your ability to repay.

Starting your own bank because people don't trust you to repay your debts is a solution only a leftist could come up with.

"I can't get a credit card because my credit sucks. So I'll just start my own credit card company".

 

[TEOTWAWKI inc.]

Sounds like they plan to create their own, but they want to do it because traditional banks cost too much to borrow money from.
So in a sense no they won’t seize banks, but they will put them out of business potentially and expand the public footprint option. Same thing?

I don't think the big banks are going to play nice. They may 'pay to play', but they aren't going to just walk away.

 

[Deplorable Me]

A cashless society will keep a lot of men from hookers and gun shows.

 

[kev74]

A cashless society will keep a lot of men from hookers and gun shows.

Eliot Spitzer paid by check. Just saying.

 

[ProgSpear]

I'll let you guys in on a secret. You know where the banks bank ?

It's this squirrelly seni-public institution called the federal reserve.

Imagine all the corruption and monopoly power of government, and all the close oversight of a black budget defense contractor.

Oh, and they literally control *all* the money.

The Creature From Jekyll Island : G. Edward Griffin : Free Download, Borrow, and Streaming : Internet Archive

The quintessential treatise on economics. Cussed and discussed by all from notable politicians to academicians to laypersons. Do you want to know the truth...

archive.org

 

[Drinkthekoolaid]

The only thing scarier is if the post office decides to start banking....

Oh wait.

Can a post office be a bank? New services test a progressive priority.

A recently launched Postal Service pilot program expands the limited financial services the agency offers in four cities, a potential first step toward a return to postal banking.

www.nbcnews.com

 

[Saltwater60]

I don't think the big banks are going to play nice. They may 'pay to play', but they aren't going to just walk away.

The big banks will have nothing to say about it honestly. Of the government starts their own bank and loans themselves money what can they do? The government will make a law or a rule to use their own banks even if it’s more costly.
Large banks will likely survive but small and medium sized ones maybe not. I’m not sure how much the government borrows from banks anyways. I just find this interesting aka scary as fuck.

 

[TEOTWAWKI inc.]

The big banks will have nothing to say about it honestly. Of the government starts their own bank and loans themselves money what can they do? The government will make a law or a rule to use their own banks even if it’s more costly.
Large banks will likely survive but small and medium sized ones maybe not. I’m not sure how much the government borrows from banks anyways. I just find this interesting aka scary as fuck.

I was referring to Los Angeles.

The big banks will laugh at the federal government because the entire US economy will collapse overnight if we fuck with them. It will only last a night and a day if we leave things the way they are. Everything is wound so tight right now.