A better investment for Alaska

According to Mother Jones online news, Senator Elizabeth Warren (D-Mass) was quoted “Today, the four biggest banks are 30 percent larger than they were five years ago,” she said. “And the five largest banks now hold more than half of the total banking assets in the country.” (“Elizabeth Warren Slams Regulators,” Nov. 12, 2013)

On a world stage these private banks and others have expanded the derivatives market. The Bank of International Settlement (BIS) states “They Show that notional amounts outstanding totalled $693 trillion at the end- June 2013.” That’s right, T as in trillion. (BIS, “OTC derivatives market activity in the first half of 2013,” Nov. 7, 2013)

We can continue to talk about the dysfunction in D.C. or we could actually do something. We could withdraw our assets from those banks too big to fail/jail and start our own Bank of Alaska. Rejecting Ponzi schemes of the derivatives market. Instead, using our assets in a public bank to create credit here in Alaska. Using credit for the advancement of a productive economy instead of a speculative economy. Economics is the linchpin of freedom and liberty.

More

Letters to the editor

Chuitna mine threatens Alaska way of life

Read more

Surprising results to fill the assembly seat

When I first walked in the room I was immediately intimidated. I thought there had to be a mistake. I walked into the Clerk’s Office to confirm... Read more

Hacking not tolerated, neither is unethical behavior

Let me see if I understand: Russia hacks the DNC and discovers acts they deem to be unethical by American standards. This information is then... Read more

Looking forward to a better 2017

Happy New Year to all!

The evening after Christmas Day, 2016 and while contemplating possible discussion topics for our next “What the... Read more