Green New Deal Platform:Economic Bill of Rights includes

“Support the formation of Federal, state and municipalPublic-owned banks that function as non-profit utilities”

Chicago Green Mayoral Candidate Amara Enyia testifying last month in the Illinois legislature

”the concept of a public bank is the notion of the bank as a public utility. Its allegiance is to the taxpayers. What that means is we [would] have the money to extend lines of credit to small businesses, extend credit for home loans and repairs on their buildings …. and having the money for infrastructure projects such as streets, sewage systems -- all those sorts of projects at low interest rates.”

THE PROBLEM

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.”

―Thomas Jefferson

If we reclaim control of issuing our money,

we may yet have the chance to realize democracy.

This Changes Everything:

So What IS a Public Bank?

Owned by the peopleDedicated to serve public interests

Supports local banks and credit unionsProvides affordable credit

Returns profits to the government

The Magic of Owning a Bank:Create Your Own Money

Public Banks can transform the issuance of credit for public needs

Create our own credit Invest in local assets and business

Establish a sustainable cycle for finance

How It Works

• Taxes and government revenues go into bank• Bank administration maintains operations and

determines investments in mission• Public bank partners with local banks + to

implement programs• Bank is overseen by non-political financial

parties and executives• Bank executives work as public officials

The Difference: Private vs. Public

Public Banks Eliminate the Middleman

What Can the Bank Do?

A public bank’s mission is set by the peopleExamples:

Low-cost student loansLow-cost small business start-up $$Low cost bonding and developmentEnhance lending through local banks

A Chance to ReclaimOur Common Wealth

THE PROBLEMin New Jersey

Private Management of State FundsCOSTS NEW JERSEY

$600,000,000 a year!

in just 9 years, costs have climbed 6,000%!

2005 - $10 Million2007 - $60 Million

2013 - $398 Million2014 - $600.2 Million

Last Year Alone:

Debt Service INCREASED $300,000,000 (M)

while Employee benefits DECREASED

$300,000,000 (M)

NJ’s Transportation Trust Fund will be insolvent

as of June 30th

=

Gas-tax increase + + + ?

New Jersey is $172,000,000,000 (B)

Behind on itsPension obligations

Local school district funding - CUT Municipality funding – CUT

$500,000,000

The Homestead property tax relief payment CUT

No Rebates paid in 2014None projected for 2015

Credit Rating Downgrades

= increased burden

on taxpayers for government borrowing

Here’s How Our Money Managers Think:Budget Officer David Rosen…..identified more than $1 billion….. where we could cut back. Eliminating the Homestead property-tax relief program, The remainder of school-aid payments, and the rest of the higher-education payments, as well as cutting hospital aid. Plus, he proposes to eliminate the expected $338 million emergency surplus

……there’s a pattern here:CUTS TO THINGS THAT MATTER TO US

is how we are paying our debt to

Wall Street

There is A Proven

Alternative

Create the Credit for

New Jersey’s needsfrom our own

Common Wealth

What could a Public Bank do for

the state & municipalities ofNew Jersey?

Fund new transport systems

Help protect pensions

Financial support for education

Stimulate small businesses

Lower public debt and taxes

Generate new NON-tax revenues

Support Green Energy initiatives

Improve crisis response for disasters like Hurricane Sandy AND funding for recovery

Low cost funding for infrastructure improvements

Stop the bleeding of public services like fire and police

Stop selling off our public assets

Imagine….

• New schools being built• Pre-school - after school programs expanded• Community gardens being built• New community centers for seniors and

young people

Imagine…

• Crime and drug use decline• Property taxes decline• Unemployment declines• Domestic violence and sexual assault down

Imagine…

How do we get there?

Re-educate Yourself About Money and Banking

This is the fun part:We’re not broke

We can reclaim control of our wealthWe can make things work

We can design a new future

Learn About Your Community’s Finances

Is local government in surplus or in crisis?Are there chronic financing issues?

How/where is public money invested?What are returns and costs?

What funding needs are unmet?How do they plan to meet them?

Get in the Game

Wall Street may control the game now, butall government belongs to the people:

Develop your Needs CaseGather and Verify your Data

Create the Vision

Build Your Team,and the Franchise

Local / National StakeholdersLocal AdvocatesLocal Champions

Local LeadersNational Colleagues

Resources

Public Banking Institute.orgEllen Brown’s: Web of Debt &

The Public Bank SolutionPBI Blog / Ellen Brown.com Blog

VideosRadio: It’s Our Money with Ellen Brown

News Articles White Papers

One More Thing

Money is about relationship and community, the underpinnings of our

Democracy

It’s up to us to reclaim the power to make our communities healthful, stable, and

peaceful

www.PublicBankingInstitute.org

www.BankingOnNewJersey.org