Moving Our Money from Wall Street to Local Community Banks
The North Dakota Model


by Ellen Brown
Web of Debt
2010-01-03


The recent proposal to vote with our feet by shifting our deposits from Wall Street to community banks is a great start. However, community banks are not suffering from a lack of deposits so much as from a lack of the capital they need to make new loans, and investment capital today is scarce. There is a way out of this dilemma, demonstrated for over 90 years by the innovative state of North Dakota -- a partnership in which community banks are backed by the deep pockets of a state-owned bank.

Arianna Huffington just posted an article on the Huffington Post that has sparked a remarkable wave of interest, evoking nearly 5,000 comments in less than a week. Called “Move Your Money,â€