solve our national financial problems
I WANT YOU TO UNDERSTAND
MONEY AND BANKING
SO YOU CAN OPEN A GRASSROOT BANK
Throughout this site, 3 asterisks *** will indicate that the information so-tagged is concerned, at least partially, concerned with the sovereign right of a nation to create money in order to facilitate commerce, banking and the general welfare.
If various people and groups of people (companies, community organizations, credit unions, religious organizations and such) start banks for the sole purpose of providing 4% home mortgages, that will solve our country’s financial problems.
There are three enormous benefits ...
1) Home buying will be affordable to way more people.
2) The bank owners will make tons of money --- because they are essentially getting 40% interest on their invested capital (assuming a 10% fractional reserve). That 40% return can be partially (50%?) or wholly reinvested for the public good.
3) The creation of new money will be put in the hands of the public -- with natural checks and balances established by Congress, in accordance with the Constitution.
No new laws or government action are needed -- existing laws cover every detail.
The links in this cell can lead you to everything you need to know about starting a bank in California. We assume the laws are the same in every State -- so the plan should work in every State -- you will have to search for the banking laws in your State.
The following two links lead to basic abstracted requirements for starting a bank in California. We assume most States have similar laws.
(A) http://www.howto-ville.com/Money%20Section/bankrequirements.html ***
(B) http://www.howto-ville.com/Money%20Section/californiabank.html ***
The following link is the actual California State law on banking
(C) http://www.leginfo.ca.gov/cgi-bin/calawquery?codesection=fin&codebody= ***
Five "money and banking" links you should look at -- whether you open a bank or not.
1) Links to 55 articles, essays and such on banking, money and economics --- many of them original on this site.
http://www.howto-ville.com/Money%20Section/b&e3-1-4.html
2) Links to 140 outside sources on banking, money and economics -- lots of classic writings on economics.
http://www.howto-ville.com/Money%20Section/b&e3-1-8.html
3) The creation of money by a bank through loans.
4) See <<http://www.howto-ville.com/Money%20Section/banking&economicspageone.htm ***>> for a report we plan to deliver to both banking committees of Congress in May of '09. The report is referred to as "Plan D -- A plan for using the natural wealth of our nation wisely to solve our current money problems".
5) You must read this article from the NY Times / BARACK OBAMA has assigned a top priority to financial reform when the new Congress assembles today, 1/6/09. If history is any guide, legislators can perform a signal service by moving beyond the myriad details of the rescue plans to provide a coherent account of the origins of the current crisis. The moment calls for nothing less than a sweeping inquest into the twin housing and stock market crashes to create both the intellectual context and the political constituency for change.
Martin R. Carbone / Carlsbad, CA, 92010 / 760-603-1910 / http://www.alphabeticalist.com
martycarbone@yahoo.com
Contact me if you need more information / this table put up on Christmas Day 2008