• 28:11 - 33:31
Ellen Brown | Bankster Thugs, The Web of Debt, & The Public Banking Solution
Bank of North Dakota and Global Public Banking Models
Ellen Brown details the success of the Bank of North Dakota, the only state-owned bank in the U.S., which maintained a budget surplus throughout the 2008 crisis. She notes that 40% of banks globally are publicly owned, particularly in BRIC nations and Germany. The German Sparkassen model is praised for its mandate to serve local businesses, proving more profitable and stable than the Wall Street model by focusing on community development rather than speculative gambling.