The state bank stops privatized debt lending. Money is lent at very reasonable rates to local businesses and college students. As it is paid back, excess beyond the banks operating costs are used for the states general funds. Like a library, a state bank is a publicly owned utility.
- North Dakota ended private debt
- Iceland ended private debt
- Every sovereignty can end private debt
State Bank Initiatives
Activism Truth has collected two State Bank Initiatives. One was created by Jeff Heaton of California, the creator of the organization Direct Democracy Party.
North Dakota has a State Bank that was created by a citizen ballot initiative, not the politicians. North Dakota is debt free to the Federal Reserve. This is evidence that the most effective political actions have been carried out by citizen efforts to use the ballot proposition process. The State Bank effort was led by the Agrarian revolt against big banks, grain dealers and railroads. It started the Non-Partisan League which was successful in working for strong Initiative and Referendum rights.
The Non-Partisan League was successful as qualifying several ballot initiatives that were approved by the voters. All their success was had before modern transportation and telecommunications. If they could do it back before our modern technology was around, we can do it now for certain.
The People of Colorado have their own initiative posted below as well, based on the North Dakota legislation.
The state bank is important because it stops fractional reserve lending and indebtedness to the Federal Reserve. North Dakota's state debt does not affect it's independent state bank from being a secured lending resource for the state's businesses and students.
The State Bank Initiative of North Dakota was created in the early 1900's as a result of upset farmers realizing they would loose their jobs to out of state grain deals through rail roads, financed by the Federal Reserve. Their Non-Partisan League and secured ballot access at a time when they needed 30%+ of the voters to sign the petitions, almost 600% more than today's requirement, all at a time before cars and phones. They legally nullified the Federal Reserve, and so can we. Our economies would be so much wealthier, we would have funding for students and local businesses, and society would thrive.
Thomas Jefferson said:
“The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.”
The FED finances wall street, not main street. A state bank would keep our states economy funneling resources into main street needs. It is the only solution short of electing an anti-federal reserve candidate as president several years from now. Why wait when we can nullify the FED on our own and save our economies?
Recently, Iceland use the Referendum process to reject loans from the IMF that kept their nation in perpetual debt. The Initiative and Referendum process is a surefire way to stop failing debt based economies.
Please watch these films if you haven't already. Review our legislation for State Banks, and get involved on our Forum to start networking with others in the various groups here on Activism Truth to help a state bank initiative get on the ballot in your state!
Activism Truth is about empowering you to help bring this initiative to your state.
We need a state bank to have sovereign monetary systems. Members submit blogs about why we need a state bank below.
- Keep Money for Locally Owned Businesses
- Keep Funding for State College Education in the State
- Reduce Dependency on the Federal Reserve as a State
- Reduce Funding the Federal Reserve as a State
- Protect Local Jobs
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