WHAT WALL STREET DOESN'T WANT YOU TO KNOW. Shock waves from one
Wall Street scandal after another have completely disillusioned us
with our banking system; yet we cannot do without banks. Nearly all
money today is simply bank credit. Economies run on it, and it is
created when banks make loans. The main flaw in the current model
is that private profiteers have acquired control of the credit
spigots. They can cut off the flow, direct it to their cronies, and
manipulate it for personal gain at the expense of the producing
economy. The benefits of bank credit can be maintained while
eliminating these flaws, through a system of banks operated as
public utilities, serving the public interest and returning their
profits to the public. This book looks at the public bank
alternative, and shows with examples from around the world and
through history that it works admirably well, providing the key to
sustained high performance for the economy and well-being for the
people.
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