Girl facing Wall Street bull. Photo by Robert Bye

News Roundup – Mar 10, 2022

Public and Postal Banking What would a public bank mean for Philly? | Oscar Perry Abello, Technically Philly is poised to become the first U.S. city to run its own bank | Jordan Levy, BillyPenn Philadelphia may become first U.S. city to run its own municipal bank | Isabelle Lhuilier, The Daily Pennsylvanian Guest Commentary: Why Philly Needs a Public Bank | Derek Green, The Philadelphia …

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Philadelphia City Hall. Photo by ByteForByte

Philadelphia Public Financial Authority bill passes in an overwhelming 15-1 vote!

In a remarkable victory with national implications, the Philadelphia City Council voted 15 – 1 on Thursday, March 3, to pass Bill #210956 to create the Philadelphia Public Financial Authority. This is not a chartered public bank (any such entity would first need permission from the Pennsylvania Department of Banking and Securities to hold deposits), but the pathway to …

Philadelphia Public Financial Authority bill passes in an overwhelming 15-1 vote! Read More

NIB Presidents' Day

Abraham Lincoln’s revival of the American System of national banking

In an event for President’s Day hosted by the Coalition for a National Infrastructure Bank, Ellen Brown describes how Abraham Lincoln was a strong advocate of the American System initiated by George Washington’s Treasury Secretary Alexander Hamilton, which championed government-issued currency for productive purposes. Faced with the Civil War and no way to fund it, Lincoln issued paper money …

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Federal Reserve seal by Kurtis Garbutt

Ellen Brown and Prof. Bob Hockett: raising interest rates will sink Main Street, but the Fed has other tools to save it

PBI Chair Ellen Brown writes in her latest ScheerPost article that the usual hammer the Fed grabs to smash inflation — raising interest rates — could trigger the next global financial crisis and deal a final blow to any small businesses left standing. But, as Cornell Law School Prof. Robert Hockett argues, the Fed does have the right tools to curb …

Ellen Brown and Prof. Bob Hockett: raising interest rates will sink Main Street, but the Fed has other tools to save it Read More

It's Our Money Bob Hockett

Latest It’s Our Money podcast: Inflation and the Fed with Prof. Robert Hockett

Inflation and the Fed Inflation is the latest economic lament over whether the national economy is in good shape or in trouble. The topic is frequently oversimplified into monetary categories of either too much money in circulation or too few goods, with the Fed trying to resolve inflation with too few, and wrong, tools. Our …

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Donation receipts available for tax purposes

We greatly appreciate your financial support for the Public Banking Institute! You can find your donation history and annual receipt here. [Annual donation receipt] Photo by Visual Stories Micheile IZ.

Albany, New York Capital Building by Ryan Fleischer

Over 150 groups sign letter asking lawmakers to support NY Public Banking Act

On January 11, over 150 advocacy groups from across New York State sent a letter to legislative leaders urging them to support S.1762-A  / A.8290, the “New York Public Banking Act.” Similar to California’s AB 857, the NY bills would create a regulatory framework for cities, counties and regions seeking to create a public bank. The letter details …

Over 150 groups sign letter asking lawmakers to support NY Public Banking Act Read More

IOM Thomas Greco, Matt Ehret

It’s Our Money recent podcasts explore community currency systems, the “American system,” and how public banks can lead in restoring our environment

Credit Clearing Exchanges “The magic of compound interest” – interest on interest on borrowed principal – is a primary way monetary wealth grows, but it is at the expense of real economic growth. What if our money system were built on local exchanges directly between producer and consumer? Our guest Thomas Greco, a global voice for …

It’s Our Money recent podcasts explore community currency systems, the “American system,” and how public banks can lead in restoring our environment Read More

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