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Ellen Brown from Green Party Runs for Treasurer in California on State Bank Platform

For related articles and more information, please visit OCA's Politics and Democracy page and our California News page.

Ellen Brown, author of 'Web of Debt' and the 'Public Banking Solution', is running for Treasurer in California, aiming to create a State Bank.

She's with the Green Party, which takes no corporate funding.

I'm elated with this news. Just today the story broke that a whopping 46% of American voters consider themselves 'independent', instead of either Republican or Democratic. These people are simply waiting for someone who will actually put the axe at the root of our problems.

Ron Paul has left a huge vacuum and there is simply no one out there to fill it. While it will undoubtedly be an uphill struggle to get the job, such a campaign can much help to get the monetary reform debate on the agenda. With Austrianism dying in the Truth Movement, this is a real opportunity.

Ms. Brown will implement legislation to charter a Californian State Bank, based on that of North Dakota, as described in her book 'the Public Banking Solution'.

While her Public Banking approach will not provide interest-free credit to the commoner (and thus does not comprehensively address usury), there is no doubt that this will enable California to extricate itself from a nasty position, with a major depression ongoing and State finances in shambles.

A State Bank is also a great way of reasserting real State autonomy vis a vis the Federal Government's ongoing marauding of State rights.

Followed up with a Public Works program that can be financed interest-free, it would end the depression and allow California a return to full employment and a massive boom based on real production. If done well, by financing the production chains for these investments interest-free also, these projects could be implemented at a much lower cost than is now common. Capital intensive industry, and none is more capital intensive than construction and machinery, is, by its capital intensive nature, heavily burdened with cost for capital (usury) and stripping production of this unnecessary burden would be nothing short of revolutionary.  


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