“This has been a government-induced rally,” said Jordan Irving, who helps manage more than $110 billion at Delaware Investments in Philadelphia. “We need to see some real positives coming from internal demand, as opposed to government- related demand, and it’s just not there.”  Bloomberg

“–my concern is that the size of that (capital requirement) leverage will be set by the same people who set it last time, one of which was Hank Paulson, who was at the time the CEO of Goldman Sachs, and went on to be the Treasury Secretary, and then he (had) a secret meeting where he gave out a few hundred billion of the taxpayer’s dollars behind closed doors. ” Daily Bail

But the good news is…

“Looking at California’s budget figures, projected state revenues for 2009 are $128 billion. At a reserve requirement of 10%, if California deposited all $128 billion in its own state-owned bank, it could issue $1.28 trillion in loans, far more than it would need to cover its $23 billion budget shortfall. To lend itself the money to cover the shortfall, it would need only $2.3 billion in deposits and about $2 billion in capital, assuming an 8% capital requirement.” Web of Debt

In point of fact, if every state in the union adopted the practice of chartering its own state-owned bank, funded by taxpayers, each of the 47 states now facing near term bankruptcy could solve their budget deficit problem with money to spare for infrastructure development and social services. North Dakota does, and has a billion dollar budget surplus.

Even the United States could play the fractional reserve banking system game to fund it’s growing deficit and debt problem, but it capitulates to the system of borrowng from the Federal Reserve, a privately owned, for-profit bank which partners with a system of global reserve banks that abandoned good banking principles for profits, then held the world hostage when it’s scheme intentionally collapsed.

I for one would rather see my tax dollars go to capitalize a state-owned bank here in Florida, WHICH OBSERVES THE RULE OF GLASS STEAGALL and does not leverage it’s capital to speculate in the derivatives casino swindle, but rather observes conventional banking rules and capital ratios under the fractional reserve system.

UNDER THAT SCENARIO, WITHIN A FEW YEARS EVERY SOVEREIGN STATE IN THE UNION WOULD BE FINACIALLY SOLVENT, AS NORTH DAKOTA IS.

In a world like that–what then would the Federal government do? In what form would it continue to exist?
Think about it — our nation’s solvency depends on it — then, TAKE ACTION!

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