Financing Freedom from Fossil Fuels: Retiring the entire US coal fleet today would cost $35–40 billion –less than one year’s worth of fuel cost to run America’s coal and gas plants. The critical importance of public banks is a common theme.

Utilities can refinance or seek partial debt relief, passing on as much as $6 billion in cost savings every year to customers when they retire coal plants. Using some of those savings for transition assistance and repurposing land and infrastructure can provide new jobs and economic opportunities for coal communities. Better yet, recycling saved capital into clean energy that is …

A US green investment bank for all: Democratized finance for a just transition

The Next System Project proposes the creation of a democratized US Green Investment Bank (GIB) https://thenextsystem.org/green-investment-bank Thomas Marois and Ali Rıza Güngen, more September 20, 2019 MONEY & BANKINGENVIRONMENT & ENERGY In ways unimaginable just a few years ago, public banking and its potential for catalyzing a transition to a green and just future have been catapulted to the center of political and …

The key to a sustainable economy is 5000 years old

By Ellen Brown, Truthdig.com August 30, 2019  We are again reaching the point in the business cycle known as “peak debt,” when debts have compounded to the point that their cumulative total cannot be paid. Student debt, credit card debt, auto loans, business debt and sovereign debt are all higher than they have ever been. As economist Michael Hudson writes in his …

Dare to imagine: A new economy is possible! Public Finance for the Future We Want

Costa Rica’s Banco Popular Costa Rica’s BPDC is perhaps the most democratic bank in the world, with its highest governing body the Assembly of Workers, which represents nearly 1.2 million savers, or 20% of the population. Effective control over daily operations is exercised by the National Board of Directors, which is composed of four representatives of the Assembly and three …

Public Banks Have Far Greater Financial Capacity Than We Think: We Need to Harness Democratized public banks for a green and just transition. Democratization example from Costa Rica.

By  Thomas Marois, Open DemocracyJuly 6, 2019 | EDUCATE!, STRATEGIZE! Public banks are resurgent, triggered by the failure of private finance to meaningfully confront the green transformation. But will resurgent public banks act in the public or private interest? How can progressives ensure public banks support a just green transformation? Democratization is the key. The turning point for public banks was really the UN’s 2015 Addis Ababa Action …

Following the Money: Public Banks and Financing Local Economies: Making Low Cost Community Loans or Sending Lots of Money to Wall Street

Bioneers Eco-Nomics ARTICLE Los Angeles paid $170 million in 2017 just in bank fees. Plus $1.1 billion in interest. So it’s just an inefficient system. We’re sending our money off to Wall Street Ellen Brown is an attorney and leading public banking advocate, founder of the Public Banking Institute, and Senior Fellow of the Democracy Collaborative. She is the author of hundreds …

The Public Banking Act “AB 857” passes the California Assembly!

AB857 passes CA Assembly. Photo courtesy Assemblymember Miguel Santiago. PUBLIC BANKING INST | 8gbMay 30, 2019 The Public Banking Act, “AB 857.” has taken public banking a historic step forward in passing the California Assembly today 41 Aye’s to 26 No’s. The bill now proceeds to the CA Senate. Assemblymember Miguel Santiago, the bill’s co-author, tweeted “The CA Assembly just sent a …

This is how to pay for the Green New Deal

As public banking expert Ellen Brown has highlighted, during the New Deal, the federal government’s Reconstruction Finance Corporation (RFC) lent over $2.5 billion in agricultural loans, backed vast infrastructure investments, and re-stabilized the economy through emergency loans to states and for disaster relief. By Sylvia Chi California Public Banking Alliance, This is how to pay for the Green New Deal, Mar 4, 2019  Dianne Feinstein, our …