Category Archives: Video Media

Banking on Colorado: Bringing Our Money Home Conference Videos

Supported by a grant from the Denver FoundationBe the Change — USA, along with the Rocky Mountain Employee Ownership Center and the Public Banking Institute, hosted a conference in Denver on Saturday, January 31, 2015, Banking on Colorado: Bringing Our Money HomeWe present here videos from the entire event.

Introductory Address – Nomi Prins: Wall Street and the Concentration of Wealth in the Big Six Banks

Panel 1: Digging Deeper into Public Banking

Moderator: Michael O’Neill, Chief Compliance Officer, Colorado National Bank

Ellen Brown, Founder of Public Banking Institute, and Author

Gwendolyn Hallsmith, Executive Director, Public Banking Institute, and Author

Mike Krauss, Chairman, Pennsylvania Public Bank Project

 

Panel 2: The Challenge: The Need for Local Funding

Moderator: Dennis Gallagher, Auditor for the City of Denver

Student Loans: Roshan Bliss, Student and Youth Organizer

Renewable Energy: Amanda Bybee, Director, Strategic Planning & Initiatives, Namaste Solar

Family Farms: August Miller, Owner, Foodshed Products

Community Banking: Michael O’Neill, Chief Compliance Officer, Colorado National Bank

 

Panel 3: The Response: Public Banking

Moderator: Dennis Gallagher, Auditor for the City of Denver

Karl Beitel, Director of the Public Banking Project, San Francisco, and Author

Ellen Brown, Founder of Public Banking Institute, and Author

Gwendolyn Hallsmith, Executive Director, Public Banking Institute

Mike Krauss, Chairman, Pennsylvania Public Bank Project

Earl Staelin, Board Member, Be the Change

 

Keynote Address – Nomi Prins: Financial Autonomy: From Greece to North Dakota to Colorado

Call to Action Keynote Address – Ellen Brown: Banking on Colorado: Why the State Needs Its Own Bank

Call to Action – Mike Krauss


Thanks go to Jason Bosch, ArgusFest, for producing these videos, aided by Dave Gardner on the second camera. Jason’s videos can be seen on YouTube at https://www.youtube.com/user/argusfest/playlists


Fractional Reserve Banking 101 and 102 — Tutorials from the Khan Academy

To understand how a public bank can operate and make money for a state, county, or municipality that owns it, it is important to understand how banking is done in the United States, as well as most countries around the world. Most banks use a model of banking called fractional reserve banking. This model allows banks to lend out money that it tells depositors is available at any time, but in fact only a fraction of it is immediately available. It allows private banks to essentially create money ex nihilo (out of nothing).

The use of this model is very profitable for the banks but with the downside that it also creates the possibility of mass instability through bank runs. Since the Great Depression, these bank runs have been mitigated by government regulation and insurance through the Federal Deposit Insurance Corporation (FDIC). This tutorial looks at fractional reserve lending from the point-of-view of the bank — comparing it to what most Americans believe that banks do. Unless you are familiar with current banking techniques, you will be surprised by this information.



The following two videos go beyond the balance sheet of an individual bank to give a global overview of fractional reserve lending and how it works with multiple banks. The first of these videos shows again how money can be created that is many times the reserve amount. The second shows inherent instabilities of this model.

There are several things to note about how this affects the money supply. First, money is removed from the economy when a loan is paid back. Thus, to keep the money supply at the level required to keep the economy running smoothly, more loans need to be made. Also, when a loan is made, only the principal amount is created. The interest amount must be created in another loan to keep the money supply at the necessary level for an efficient economy. This is an additional source of instability not mentioned in the second video.



Philadelphia Symposium on Public Banking — Public Banks for Public Works: Banking on the Common Wealth — October 18, 2014

Pennsylvania Public Bank Project and the Public Banking Institute together presented a national public banking symposium, Public Banks for Public Works: Banking in the Common Wealth — A symposium to educate and inform the citizens of Pennsylvania and its neighbors about the role a public bank could play in supporting an economy that serves us all, not just the wealthy.

The symposium was held at the Quaker Friends Center in Philadelphia, PA on Saturday, October 18, 2014.

We provide here, videos from all sessions of the Public Banks for Public Works: Banking in the Common Wealth Symposium.








Seattle Forum on Public Banking — December 10, 2014

The city council of the City of Seattle recently held a public meeting, Public Forum: The Possibility for a Public Bank in Seattle to discuss, with experts in the field, the possibility of establishing a public bank in Seattle. Of particular interest is a “Public Banking 101” presentation by Gwendolyn Hallsmith, Executive Director of the Public Banking Institute and one of the invited speakers at our Banking on Colorado: Bring Our Money Home to be held on Saturday, January 31. 2015. Information about the Conference, including a link to the registration page are in the column to the right.

The video is set to start at the beginning of Gwen Hallsmith’s presentation. The start times of other speakers at this forum are given below the video.

At t = 15:04 — Karl Beidel, Director, The Public Bank Project

At t = 27:22 — Thomas Keidel, Director, German Savings Banks Association (DSGV)

A 40 minute session of public participation begins at t = 1:04:43.

 

The Bank of North Dakota — Its History and Operation

North Dakota has a public bank–a bank that has been owned and operated by the people of North Dakota since 1919. Because of the Bank of North Dakota, the state weathered the crisis of 2008 far better than most. North Dakota has not had a single local bank failure in more than 20 years. This documentary, produced by Prairie Public Broadcasting, presents the bank’s history, its current operation, and how it benefits the state.

Money and Banking 101 — Issues and Solutions (Part 3 of 3)

From time-to-time we will post items that we are calling Money and Banking 101. These come from various sources around the world. This is the first in that series. The three videos presented here come from the Public Banking Institute and the Pennsylvania Public Bank Project. This is the last post of three in this series.

The third of these videos shows us an important part of the solution to the problems outlined in the first two videos–the formation of public banks. Our cities are not broke. They are struggling with onerous interest payments to Wall Street bankers who are nothing but middlemen. These interest payments impoverish your communities, while enriching Wall Street. This video shows how municipalities, counties, universities and states can significantly reduce their interest payments by creating their own public bank. This has already been done and proven, and could cut the costs of public projects by at least half.

Money and Banking 101 — Issues and Solutions (Part 2 of 3)

From time-to-time we will post items that we are calling Money and Banking 101. These come from various sources around the world. This is the first in that series. The three videos presented here come from the Public Banking Institute and the Pennsylvania Public Bank Project. This is the second post of three in the series.

The second video informs you of perils your deposits face in large global banks — as set by law. People think that money is safe in the big banks because the FDIC will protect the deposits. This assumption is not based on fact. This video will show official government documents that describe the plans for confiscating deposits when (not if), a big bank fails. Individual, as well as public funds from municipal, university, county deposits are at serious risk. Your taxpayer money will disappear in the next crisis! Public officials in charge of taxpayer funds need to be aware of the dangers here. The loss of taxpayer funds and the inability to meet payrolls and obligations will certainly prompt a response that will both immediate and forceful.

For more information about current law and how it jeopardizes your bank deposits, see Legal Framework for Big Banks Puts Depositors at Risk by Steve Seuser, Co-Director, DC Public Banking Center.

Part 3 — Tomorrow

Money and Banking 101 — Issues and Solutions (Part 1 of 3)

From time-to-time we will post items that we are calling Money and Banking 101. These come from various sources around the world. This is the first in that series. The three videos presented here come from the Public Banking Institute and the Pennsylvania Public Bank Project. This is the first post of three in this series.

The first of these videos deals with money and money creation. People will work for decades to make the money they need to pay the bills and other necessities. Yet, fewer than 1-in-1000 people understand how this money actually gets into circulation and who benefits from our current system. After viewing this video, you will be one of those 1-in-1000 who understand this troubling issue in our current banking system. This is important knowledge. Please pass it on.