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 …
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
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 …
Abraham Lincoln’s revival of the American System of national banking Read More
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 …
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 …
Latest It’s Our Money podcast: Inflation and the Fed with Prof. Robert Hockett Read More
New Mexico starts this year’s legislative session with a hearing of the House Commerce & Economic Development Committee to discuss the Public Banking Act today, January 31, at 3:30pm ET / 1:30pm MT . [Join the webinar here] [Agenda] [About the bill HB 75] New Mexico Capitol, Santa Fe. Photo by MrTinDC.
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.
New Jersey is taking its process of creating a public bank a bit more “public.” Tonight, Jan 24, at 6:00 pm ET, the first in a series of public hearings takes place, hosted by the NJ Work Environment Council (WEC). Registration link below. WEC describes the event: WEC has invited Governor Murphy to hear from labor leaders, grassroots …
New Jersey begins series of public hearings about public banking Read More
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
The PBI Board is delighted to welcome passionate grassroots public banking organizer Madeline Merritt as a fellow board member. Madeline was a core organizer for divestment and public banking in Los Angeles. She utilized direct action, lobbying, and the legislative process to redirect banking power for the people for the Measure B campaign and for …
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 …
