A Little More Background on the Lawsuit

March 26th, 2015

A short video that showed that the COMER lawsuit would go ahead…


No press at media announcement

March 23rd, 2015

First Announcement—COMER Lawsuit

Media announcement of the lawsuit and none of the press showed up!


Federal Reserve = ‘the FED” What is it anyway ?

March 17th, 2015
Is it Federal ?  Well. NO.  Does it have Reserves ? Well. NO.
How important is it that its creation and continuation be understood ?  Well, VERY !
How could that happen ?  (a) Read Ed Griffin’s book “The Creature from Jekyll Island”.
                                     (b) Watch James Corbett’s “Century of Enslavement “
                                           (it’s on  Occupyourbank.ca) and it’s free from copyright.
Then, what to do with that fresh understanding ?
                                     (c) You could study the Canadian central banking experience
                                          to learn how a PUBLICLY owned central bank is DIFFERENT,
                                          and exactly are the consequences.(hint–no enslavement)
                                         Will Abram’s videos are on Occupyourbank.ca
 Then, what  ?

                       (d)You could start a conversation — with friends and family
                        When Victoria Grant (age 12) studied this, reported her findings
                          to her father’s business meeting, and spoke at the Public Banking Conference
                            in Philadelphia, her 6-minute speech went viral on YouTube with 3 million hits.

What’s Happening in Greece

March 1st, 2015


The “Too Big To Fail” Have Stopped Being Banks. They have become Huge Criminal Enterprises Involved in Market Manipulation

February 27th, 2015

Apart from the above-described manipulation, virtually all of the big banks’ profits come from taxpayer bailouts and subsidies  (see thisthis and this).  Why don’t they need deposits? Because the taxpayers are showering them with money.

And they don’t need deposits because – as is now admitted by the mainstream – banks create money out of thin air.  In other words, banks don’t need deposits in order to make loans.

At the same time,  the big banks have sat on the money the government threw at them – with the encouragement of the Fed – instead of loaning it out to Main Street to kickstart the economy. As we noted in 2012, small banks are much more interested in making loans to the little guy than the TBTFs (Too Big To Fail):

USA Today points out:

Banks that received federal assistance during the financial crisis reduced lending more aggressively and gave bigger pay raises to employees than institutions that didn’t get aid, a USA TODAY/American University review found.

Dennis Santiago – CEO and Managing Director of Institutional Risk Analytics … notes:

The vast majority of this contraction of credit availability to American industry has been by the larger banks ….

Fortune reports that smaller banks are stepping in to fill the lending void left by the giant banks’ current hesitancy to make loans. Indeed, the article points out that the only reason that smaller banks haven’t been able to expand and thrive is that the too-big-to-fails have decreased competition ….

Business Week notes:

As big banks struggle, community banks are stepping in to offer loans and lines of credit to small business owners….

Fed Governor Daniel K. Tarullo said:

The importance of traditional financial intermediation services, and hence of the smaller banks that typically specialize in providing those services, tends to increase during times of financial stress. Indeed, the crisis has highlighted the important continuing role of community banks….

[Federal Reserve Bank of Kansas President] Thomas M. Hoenig pointed out in a speech at a U.S. Chamber of Commerce summit in Washington:

During the recent financial crisis, losses quickly depleted the capital of these large, over-leveraged companies. As expected, these firms were rescued using government funds from the Troubled Asset Relief Program (TARP). The result was an immediate reduction in lending to Main Street, as the financial institutions tried to rebuild their capital. Although these institutions have raised substantial amounts of new capital, much of it has been used to repay the TARP funds instead of supporting new lending.

On the other hand, Hoenig pointed out:

In 2009, 45 percent of banks with assets under $1 billion increased their business lending.

45% is about 45% more than the amount of increased lending by the too big to fails.

Indeed, some very smart people say that the big banks aren’t really focusing as much on the lending business as smaller banks.

Specifically since Glass-Steagall was repealed in 1999, the giant banks have made much of their money in trading assets, securities, derivatives and other speculative bets, the banks’ own paper and securities, and in other money-making activities which have nothing to do with traditional depository functions.

Indeed, the “Too Big To Fail” are doing everything they can to fight the availability of low-cost loans for Main Street and the little guy.

The bottom line is that we don’t need the big banks.   Indeed, top economists, financial experts and bankers say that the big banks are too large … and their very size is threatening the economy. They say we need to break up the big banks to stabilize the economy.

This is especially true since the monsters are growing larger and larger … and have mutated so much that they’re no longer even behaving like real banks.

The Public Banking Group is for brainstorming and discussing ideas for creating and implementing public banks, specifically state banks, county banks, city banks, and publicly-supported non-profit banks.

Global Research, February 22, 2015

Today—in Greece

February 23rd, 2015
A historic moment for the PEOPLE.
……….not just for the people of Greece  …..
This is the moment that matters  —the moment when a man stands,
                                                                            stands and speaks
This man shouts
                           he shouts from the “Acropolis”
Here is what he is saying to the money-changers in the temple :
OUT !   Get OUT from here !  This is a sacred place
                                                The people here are sacred
                                                 They are GOD’s creation
and, we will not allow you
                                          to continue your destruction
We will retain our holiness — our blood
We will not allow you to keep on removing our flesh.
That which belongs to Caesar will be given to Caesar
Nothing more
………for usury is a sin  — a “deadly” sin, a  transgression against God’s will
This rant is not confined to the Greek ‘temple’.
It is being echoed in Spain.
Hungary has kicked the IMF out of the country.
Ireland has appointed a citizen’s Inquiry.
Iceland has distinguished the illegitimate (odious) portion, has repudiated it
and is jailing some banksters.
Ecuador and Brazil have audited their debts.
They learned who lent what to whom, when, for what purpose..
A citizens’ audit of France’s public debt concluded that 60 % is illegitimate,
 — that the increase was not explained by an increase in public spending.
Eric Toussaint (Global Research.ca , Jan27th) cites EU Regulation #472/2013 :
“The audit should show clearly that the measures dictated by the creditors
are in fact manifestly regressive in terms of fundamental human rights and
a clear violation of a series of treaties.
Considerable irregularities can be identified.
 Consequently, the commission in charge of the audit will be able to give
 a reasoned opinion as to the illegality, the illegitimacy, and even the nullity
of the debt contracted by Greece with the Troika. “
Godspeed,  Yanis Varoufakis !

Does CANADA POST have a profitable future ? —-as an easily accessed BANK ?

February 21st, 2015
Ever wonder why Canada’s biggest city, with those huge TOWERS of GOLD huddled around
Bay Street,   doesn’t have its OWN Bank ?
Kristen Yong-Tam , a city councilor in Toronto , has stopping wondering.
 She is working  to organize a publicly owned bank there,
Does CANADA POST  have a profitable future ? —-as an easily accessed BANK ?
The 800 page REPORT certainly proved it possible and profitable—just like those
very profitable postal banks in Europe.
So, why was almost all of the report REDACTED ? Could  the new CEO from Pitney Bowes
explain ?
Mike Palacek  from the Union of Postal Workers is wondering about his own future, as well as
that of his fellow “mailmen”.
Let’s have a conversation with the constitutional lawyer that’s handling the COMER lawsuit
to force the government to USE OUR BANK interest-free.
What’s to happen, Rocco ?

An Interview with Ellen Brown

February 16th, 2015
Money creation : now that’s complex and mysterious , isn’t it ?
Well, NO. It’s so simple that it can baffle minds !  And, does it matter
how money gets created ? You bet it does. Why would a country
 that has its own bank where it can have interest-free loans,
 ever want to borrow from private banks and pay interest ?
That’s the huge and non-smart move that Canada has been doing
for the last  forty years !!!!  Victoria Grant understands money creation
and what we need to be doing…When  she explained this 3 years ago
to the Public Banking conference in Philadelphia (12 years old then)
she got a standing ovation, and her 6 minute speech went viral on
You Tube to over 3 million.
For this radio interview of Jerry Ackerman by Ellen Brown, Victoria chimes in,
while Jerry updates Ellen on the progress of the lawsuit that is aimed at
forcing the Canadian government to USE OUR BANK..


January 12th, 2015

On Saturday, January 24, COMER, the Public Bank Institute, Canada Chapter, and members of the Council of Canadians, will present a seminar on:

All you wanted to know about MONEY but were afraid to ask

The meeting will be held at the Council Chambers, Toronto City Hall, 100 Queen Street West.
There is no charge to attend.




Helping others with THEIR numbers

April 10th, 2014

Extending my mind  further

Purdue University required every “foreign” student to take a comprehensive exam in the use of the English language. When my department head called me in to congratulate me –the highest percentile ever reached — I didn’t explain my preschool interests, or mention the large book of crossword puzzles a Cornell professor had sent me following his summer fishing visit.

Nor did I mention that I would be staying another full year after the qualifying exams to ensure that every word in my thesis would say exactly what I wanted said. By concentrating, I was investing mostly my mind resource to satisfy my own requirements.

With less attention to financial markets I was getting anxious to extend my “number thinking” and economic understanding — by sharing with down-on-the-farm families. Where would I find such an opportunity? Three years earlier I had been offered just such a position  out in the Saskatchewan prairie , and at the top of the salary range. But I declined after realizing my acceptance at Purdue would better prepare me for the career I was sure I wanted. Now that the deputy minister of Alberta Agriculture knew that Saskatchewan  was moving ahead in such a direction, he flew down to Indiana to offer me the chance to lead an economics extension program. I had to refuse, as I knew there was very little research data available from the farm level. A month later he informed me that a well-known professor at Iowa State was coming to head up research in Farm Management at the University in Edmonton. Would I reconsider ?

Yes, I would !

So the family (now four of us) bundled up in the new VW beetle ($1,790 cash) and made our way to Edmonton — a 2000 mile journey. I found the Department of Agriculture well out in front of what had been happening at the university — in sharp contrast to Indiana where anyone from Purdue received a warm welcome from farmers. After Gordon Ball arrived we worked together to develop an extension program in economics applied to agriculture. However, when it was apparent that the university administration was not  being supportive, Gordon resigned and returned to Iowa, leaving us at the Department  of  Agriculture “empty-handed”. I decided to leave too.

The University of Manitoba was interested in interviewing me, and since both Iowa and Purdue profs were already present, we were easily compatible. Best of all was the ready opportunity to develop a farm business association in a western area of the province, learning from a colleague who had started one to the South of  Winnipeg.

April 1st, 1961   Exactly 3 years after my first successful investment. This marked the beginning of my most totally useful career. It put me in the RIGHT place –at the RIGHT time — for the RIGHT reasons. The kitchen table trade-offs (“teacher-learner, learner-teacher”) would show me how prairie farms operate and I would share my financial management understanding. I came up with a name for this :

“Ackerman’s 5 A’s of Decisions”
* Accounting
* Analysis
* Alternatives
* Assessment
* Action

This one-handed process reaffirmed farm level decisions to “stay-the-course” ensuring viable businesses, and providing for  continuity with the oncoming generation. For me —my most productive half-decade. The questions I always asked apply to any business of any kind anywhere in the world :
* Is this farm big enough ?
* Is it productive enough ?
* Are the costs controlled ?

By analyzing the data from dozens of farms in the same area of the province I could develop appropriate standards and benchmarks. In buying a farm for myself and renting it to neighbours I was seen to be sharing some of the risks and uncertainties. No longer was I viewed as a representative of the “Y’Ought Club”  as the Department of Agriculture was called.

The next decade brought a special one-time opportunity for these farmers fully knowledgeable about their business. Increased prices in the grains and oilseeds they were producing, without a corresponding increase in costs !  They prospered accordingly. In the same decade (1970s) the Canadian banks were de-regulated. They took over the trust companies, funded government spending, and speculated in foreign bonds. This resulted in runaway interest rates, inflation and vast increases in debt at every level of government. Many farmers responded by bidding up the price of land. Large land purchases by European farmers worried about their communist neighbours added to the unwarranted inflation. In my classes I gave assignments asking for calculations justifying 15 to 20 % interest rates. Only those students responding  with “nowhere, no way” got my approval. It was time to sell and retire from farming.

That’s what I did. I went part-time at the university and commuted seasonally  to Nova Scotia to start up tourist businesses, retiring fully from academia four years later.