free public money for Cali

One of the few US states that's not nosediving into recession
is North Dakota. The sensible among us know that this is
partly due to the fact that it has its own public bank.

Now, there's a gang in Cali that want one. The Cali
government is notoriously poor at running things, so
I wouldn't let Cali run an ice-cream truck, but that's
besides the point.

It's probably losing money to Goldman Sachs like everybody
else, so a public bank would be good, in theory.

Two issues:
Mish Shedlock rejects public banks out of hand,
while at the same time saying taxing banks is wrong.
Despite that logical black hole in his head,
he does seem to have good financial ideas, unless you
talk about worker rights, and pensions. Then he goes
off the rails again. He didn't even want to discuss
the good and bad of NDakota.
He also didn't fully criticise the Cali advertising.
Of course, in this way, he is also dissing the UK.
Most of the major banks are being babysat by the Nanny State.

The Cali advertising, in true Hollywood style is a
technical re-lipsynch of the Wizard of Oz, complete
with the song sung in me-so-stupid voice. THAT is what
is scary about the Cali gang. Have a look at this
psychotic bullcrap and tell me if these people deserve
a bank, or a padded cell.

let's cut to the video:


I can't find it on Mish's blog.

IshitUnot: washington's blog Sept 2011
California May Launch Public Bank, Which Could Help Take the Power To Manipulate the System Away From the Insolvent Giant Banks
Posted on September 16, 2011 by WashingtonsBlog

California Passes Bill to Study Public Bank

The California legislature has passed a bill to study public banking. If you don’t know what public banking is (North Dakota already has a public bank, which is helping to keep that state in the green) and why this issue is so important – read this and this for background.

This could take away the power of the giant, insolvent banks to manipulate the money system. See this and this.

Governor Brown Is On the Fence On Vetoing Or Signing … But He’s On the Fence
Ellen Brown – whose Public Banking Institute helped pass the bill – says that California governor Jerry Brown is considering vetoing the bill. Brown suggests that Californians call Governor Brown to urge him to sign the bill (AB750) into law: