State Bank of North Dakota Out Performs Wall Street!
"To what, then, are the remarkable achievements of this lone public bank attributable?
"To what, then, are the remarkable achievements of this lone public bank attributable?
The answer is something the privately-owned major media have tried to sweep under the rug: the public banking model is simply more profitable and efficient than the private model. Profits, rather than being siphoned into offshore tax havens, are recycled back into the bank, the state and the community.
The BND’s costs are extremely low: no exorbitantly-paid executives; no bonuses, fees, or commissions; only only one branch office; very low borrowing costs; and no FDIC premiums (the state rather than the FDIC guarantees its deposits).
These are all features that set publicly-owned banks apart from privately-owned banks. Beyond that, they are safer for depositors, allow public infrastructure costs to be cut in half, and provide a non-criminal alternative to a Wall Street cartel caught in a laundry list of frauds."
(see entire article at link)
http://2vr.org/2014/11/21/are-you-listening-vermont-bank-of-north-dakota-bnd-outperforms-wall-street-by-ellen-brown-banking/
