Public Banking in America… Philadelphia Freedom, Birthplace of the Constitution Takes Center Stage

 

Pennsylvania-independence-hall-philadelphia

It is well known that Philadelphia was
the birthplace of the U.S. Constitution and American democracy.  Less
well known is that it was also the birthplace of public banking in
America.  The Philadelphia Quakers originated a banking model involving
government-issued money lent to farmers.  The profits returned to the
government and the people in a sustainable feedback loop that nourished
and supported the local economy. ~ Ellen Brown

Both landmark events will be commemorated in upcoming gatherings in Philadelphia.  On April 7th, during Occupy Philly’s celebration of its six month anniversary on the mall in front of Independence Hall, the Occupy Philly General Assembly
reached consensus in support of the National Gathering Working
Group proposal to hold an Occupy National Gathering at the same location
from June 30 to July 4, 2012. 

The endorsement included a commitment by
Occupy Philly to provide the resources necessary to make the first
Occupy national gathering in history a resounding success.  The stage
was thus set for what could be a revolutionary event located at the
historic birthplace of the First American Revolution. 

Resonating with that theme, on April 27th-28th the Public Banking in America Conference will be held at the Quaker Friends Center in Philadelphia, hosted by the Public Banking Institute
(PBI). 

PBI’s vision is to establish a network of public banks across
the country to generate affordable credit according to the priorities of
real people, not corporate persons or banks.  These priorities include
student loans, sustainable agriculture, worker-owned coops, renewable
energy, and so on. 

The  Bank of North Dakota,
currently the only publicly-owned depository bank in the USA, has over
two dozen loan programs reflecting the priorities of the people of North
Dakota.

Freeing the American people from the
economic injustices perpetuated by Wall Street is what Occupy Wall
Street is all about.  We have become slaves to the economic power of
Wall Street and their political lackeys.  We now pay obscene amounts of
interest to private bankers in exchange for the necessities of life. 

The American public thought it was chasing the two pillars of the
American Dream… getting an education and buying a house.  Now both of
these pillars have been used against us to further the interests of Wall
Street.  Student and mortgage debt are used to club us into servitude. 
  

Samuel Adams said of those whose
allegiance was to money:  “If ye love wealth greater than liberty, the
tranquility of servitude greater than the animating contest for freedom,
go home from us in peace. We seek not your counsel nor your arms.
Crouch down and lick the hand that feeds you. May your chains set
lightly upon you; and may posterity forget that ye were our countrymen.”

After over six months of OWS protests
over economic injustice, the Occupy National Gathering and Public
Banking in America Conference will look at solutions, inspired by the
revolutionary efforts of those who came before us in the birthplace of
American freedom, Philadelphia. 

 

‘Cause I live and breathe this Philadelphia freedom
From the day that I was born I’ve waved the flag
Philadelphia freedom took me knee-high to a man
Yeah, gave me peace of mind my daddy never had. 

Oh, Philadelphia freedom, shine on me; I love you.
Shine a light through the eyes of the ones left behind.

‘Cause I live and breathe this Philadelphia freedom
From the day that I was born I’ve waved the flag
Philadelphia freedom took me knee-high to a man
Yeah, gave me peace of mind my daddy never had.

 – Elton John, Bernie Taupin, Philadelphia  Freedom”

 

Ellen Brown – April 9, 2012 – GlobalResearch.ca

 

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