Local Banking Local Currency

After posting record profits and issue massive bonus in the banking industry for 2009 the American Bankers Association said today that if Obama imposes a fee on banks to recoup the bailout cost the banks will stop lending.

I say fine.

It is time for each state to create a state run bank that actually serves the needs of the public not massive corporate profits and bonuses for its executives. Nebraska has a state ran bank and guess what...the people of Nebraska are still able to get loans and the state is in the best economic health in the nation with the lowest unemployment rate. The model obviously works.

Take it one step further. The states should start issuing their own currency which is perfectly legal. Local currencies help keep the money in the state stimulating local economies and building local business. Many American communities issue local currency for just this purpose. Local merchants simply need to sign onto the program and accept the local money usually discounting products purchased with the local currency or better charge a premium on goods bought with the unstable U.S. dollar.

State authorized and controlled localized currency would cut the strangle hold that the privately owned Federal Reserve has on our economy and greatly reduce their influence over our elected leaders. It also reigns in the "to big to fail" banks that trashed the American economy in the first place.

If the Federal government is unwilling or unable to fix the problems with out economic system and bring the Federal Reserve under the control of the people then local communities must band together to protect their citizens and ensure their freedom.