The United Alaska Campaigner 41st year edition—May 2025 Alaska State Bank, Part 4 American System Credit Guidance

“Alexander Hamilton wrote the majority of the Federalist Papers and founded the American System of political economy”.

This 41st year issue of the UAC is based on my decades-long commitment to reading and watching presentations given by college professors and business leaders; through attending and hosting for international economic conferences; and my employment as a researcher for the State of Alaska as the primary legislative assistant for writing the Alaska State Bank legislation.

This fourth part of the Alaska State Bank series on creating a public state bank in Alaska that begins as an infrastructure bank provides the in-depth historical and theoretical foundations necessary for passing the Alaska State Bank legislation with anticorruption and economic development credit guidance policies that will stand the test of time.

This fourth part of this series is a direct continuation of my 10-part series Alaska Emergency Employment Mobilization available on my websites; alaskastatebank.net and Alaska State Bank Advocate on Facebook.

American System Credit Guidance

The financial bailout subsidies that have been available since 2008 continue to be ignored by state governments because of misunderstanding the history and policies of the American System of political economy.  Once the American System is revealed then Alaska State Bank legislation can be robustly debated and passed, and a new era of economic development can begin.

Those politicians who have no knowledge of how money is created in the American System offer budget cutting austerity, deregulation, privatization, chaotic trade policy, and personal taxation as the only solutions available because they do not understand the history and historiography of United States economics.

The beginning of the 2008 financial crisis was the teaching of bad economics long before the previously illegal derivatives entered the Federal Deposit Insurance Corporation (FDIC) banking system.  Financial deregulation pushed forward by the British System’s “Efficient Market Hypothesis” was dominantly propagandized in school systems many years before the securitization boom and the predatory derivatives bubble entered banking systems.

As banking systems began to destabilize under the pressure of derivatives, the political efforts were then directed toward the additional lowering of loan origination credit guidance standards that led to the predatory lending of subprime mortgages to low-income homebuyers—that led to a massive housing bubble that crashed and resulted in the 2008 Global Financial Crisis.

The original cause of the 2008 crisis was the teaching of British System economics in educational systems that led to deregulated banking systems that ultimately lowered housing affordability—the cause of the 2008 crisis was not poor people breaking the rules in an attempt to better their lives.

The goal of this essay is to redefine the distinction between the American and British Systems of political economy in the context of current history and historiography to offer an academic alternative to the flawed and corrupt oligarchic ideologies that continue to be taught in media and educational systems.

Federal and Federal Reserve fiscal and monetary policy subsidies can be accessed by state governments only once the dynamics of economic history and the creation of money are clear in the minds of our political leadership.

Establishing public state banks with American System anticorruption money-creation credit guidance policies requires this knowledge for achieving the goal of long-term economic development that raises the living standards and creative potential of citizens not only in our state and nation but also with the peaceful relationships developed across mutually beneficial trade with many nations.

Economic historiography

Oligarchy versus republicanism has been a standard universal theory of history for considering the rise and fall of civilization for over two thousand years but let us redefine this dynamic in a modern way that clearly identifies the role of current financial economic systems.

Oligarchy is based on social stratification where a few at the top of an economy attempt to keep populations poor, ignorant, racist, indebted, superstitious, irrational, enslaved, drugged, depressed, depopulated, and in perpetual warfare to maintain oligarchic economic power.

All humans are defined as animals who have no creative potential unless that potential is directed toward serving a polycentric oligarchy.  Metaphorically, oligarchy hunts as an animal pack yet the pack members eat each other.

The economy of oligarchy is based on gambling, illegal drugs, warfare, terrorism, asset stripping, money laundering, grifting, high interest payments, theft of public infrastructure, territorial expansion, seizure of assets, tax evasion, bribery, exploitation of labor, fraud, corruption, rent, user fees, tolls, and maximum profits from all aspects of human life to insure income streams to international cartels of corporate finance.

The most recent economic function of modern oligarchy is to turn the sovereignty of all nations over to high-speed AI computer programs that act as predators on the prosperity and survival of humanity.

Oligarchies have traditionally attempted to constrain education and the advancement of science and industrial technology because populations who are learning and rapidly assimilating technologies have the tendency to become more rational and then create political movements that attempt to overthrow oligarchy.  The only advanced industrial technologies that are allowed by oligarchy are for war that depopulates or promotes the expansion of oligarchic interests.

Highly efficient industrial technologies are commercially and politically suppressed to prevent competition to existing income streams from existing capacity.  Backward technologies and backward scientific and mathematical methods are promoted by oligarchy as controlled opposition.

Increases in the money supply by oligarchic banking systems originating loans are focused on finance, insurance, real estate, asset prices, rent, speculative bubbles, and loans that act to debt-pyramid all aspects of society so that the prevailing oligarchy can asset strip and trade debt for equity for any competitor to the dominant oligarchy.

Modern oligarchic foreign imperial resource wars are based on restricting the currency-issuing sovereignty of nations by requiring the federal spending that passes from a treasury to a national reserve bank creates foreign debt.

Instead of originating loans in local national currencies, foreign oligarchy corrupts local officials to force loan origination into the preferred currency of the dominant oligarchy.  The foreign debt is then used for political and military control, forced exports, and economic suppression of the conquered nation.

International sanctions, currency devaluations, payment system disconnection, privatization, unfair trade, tariffs, and blockades are forced on any nation that does not comply with the ever-changing arbitrary rules of imperial oligarchy, thus debt pyramiding nations into submission to the international financial cartel system.

Any nation that attempts to create regional economic development projects that have the potential to evolve into independent money lending institutions outside the current financial cartel system are regime changed, have assets seized, or overthrown in a way that creates regional and possibly international war.

For thousands of years oligarchy and war have dominated the political organization of humanity, but a few times in history there have been humanist challenges to oligarchy by republicanism.  The Golden Age of Egypt, the Golden Renaissance in Europe, the creation of the United States, and the rise of the nation state system have all been successful attempts at challenging oligarchy.  But the sad truth is that oligarchy continues to assert control over the lives of humanity even with all the efforts to end its power.     

The political opposite of oligarchy is republicanism that is based on social, economic political organization that promotes the higher goals of a creative humanity such as liberty, justice, equity, equality, posterity, and freedom.  These natural law principles are written down and signed into a constitution, thus giving rise to the nation state system of democratic republics.

Even though democratic republics are under constant attack by oligarchy, the nation state system has done much good for the general welfare of humanity—when they are not being hijacked by oligarchy.

The economic system of democratic republics is based on valuing and promoting the creative and productive potential of humanity.  Increases in the sovereign unit of account money supply by federal governments spending as sovereign issuers of currency and periodic debt jubilees lay the foundation for the prosperity and survival of civilization.

Federal spending that moves from treasuries to national reserve banks is offered for sale as bonds to the local private economy to create stable savings and subsidies and is not forced to be sold internationally so does not create foreign debt.  Private low-interest credit creation increases in the money supply are originated by banks in domestic currencies and foreign originated loans remain a small percentage of the domestic economy or categories of infrastructure.

The economic foreign policy of democratic republics is based on the shared interest and reciprocal cooperation in developing the productive powers, conditions of life, and cultural harmony of civilization.  Foreign Direct Investment is welcome yet focused on cross border payments in local currencies and regulated to prevent inflation, labor abuse, and other predatory criminality.

Foreign currency originated loans must benefit the domestic economy through access to technology, oversight, management, transactions efficiency, or expertise not available in the local economy.  Foreign debt is incurred when foreign products and services are imported into a nation through reciprocal trade where both trading nations benefit from the import and export.

The cheap dumping of foreign goods is prevented through moderating tariffs, import quotas, and exchange controls that protect industries that are required for the health and prosperity of nations.

International banking cooperation through the mutual building of infrastructure and industrial productive capacity, especially focused on advanced technologies and fresh water/sanitation and electric power systems, are the keys to building long-term peaceful friendships that can lead to economic alliances of democratic republics that provide stable yet adjustable exchange rates.

Friendship trade alliances of democratic republican nations provide processing for payments between banks and foreign exchange buffer reserves held by nations to prevent attacks from imperial financial oligarchies.  Foreign assistance is offered to nations suffering poverty or catastrophic events even if those nations are not currently in the status of an allied nation.

American System versus British System

In the United States, Alexander Hamilton, as an advocate for democratic republics, founded the American System of political economy to comply with the mandates of the United States Constitution and Declaration of Independence.  Alexander Hamilton’s Reports to Congress on the subjects of public credit, national bank, duties on imports, establishment of a mint, and manufactures, identify the economic system that oligarchy has been trying to eliminate ever since the founding of the United States.

One of the modern tricks of oligarchy is to frame the debate on economic dynamics as between free market capitalism versus socialism that completely excludes the qualitative transformation in finance and economics enacted by Alexander Hamilton.  The false history dynamic of capitalism versus socialism restricts all solutions to economic problems in a way that leads to a rise of oligarchy.

The United States was founded in opposition to the British East India Company’s oligarchic economic policies that led to famine genocide under its administration in 1770s India.  The continued present day political focus on the Boston Tea Party identifies the true dynamic of economic history.  The policies of the British East India Company and its many British educational systems such as the Haileybury College and East India Company College are the economic anti-thesis for patriots of the United States.

Alexander Hamilton was not perfect in all his assessments, but the foundation was established that clearly identifies the American System versus the British System as a true epistemological dynamic of economic historiography.  American economic writing and textbooks of the early to mid 1800s clearly identify these directly opposing doctrines of political economy, but late in the 1800s oligarchy began manipulating educational systems to promote a false understanding of economic history that continues to this day.

The British System of political economy now dominates most education and national media and the American System, if mentioned, is called a “mixed economy” between capitalism and socialism.  Through excluding the American System as a coherent set of policies, the worst abuses of the British East India Company can come back to life to service the nation destroying goals of corrupt money managers and corporate financial oligarchy.

The exclusion of the American System of political economy in education today indicates the need to reform the teaching of economics in academic systems.

British System

The British System of political economy defines economics as the study of competition for scarce resources and is currently dominated by General Equilibrium Theory, Efficient Market Hypothesis, Free Trade, Sustainability Doctrine, Supply and Demand, Monetarism, Keynesian, Austrian, Libertarian, Classical, Neoclassical, Neoliberal, and Marxian economics.

Historical British System economists and advocates include Adam Smith, David Ricardo, John Stuart Mill, Karl Marx, Thomas Malthus, William Petty, Henry John Temple, John Maynard Keynes, and Milton Friedman.  John Maynard Keynes was celebrated for his American System tendencies but was not American System as his Civil Service career as a clerk in the India Office and Cambridge education indicate.

All of these ideas and factions exclude the teaching of the American System and so the physics of industrial science and the true operational accounting structures of banking systems are never learned by students.  Instead, antigovernment free market ideologies, antigrowth, false growth, and Malthusian propaganda are taught by most factions of the British System.

In the British System, population policy is guided by the ideas of Reverend Thomas Malthus who claimed population growth will always outpace food supplies, so followers of Malthusianism have historically worked toward depopulation.  Oligarchic financial systems prefer constantly shrinking populations because total capital intensity per person is lowered by predatory speculation that generates financial returns orders of magnitude greater than the financial returns from physical production that can support more humans enjoying higher living standards.

In many factions of the British System, antigrowth is worshiped as a religion that is founded on maintaining the power of oligarchy that is constantly challenged by the physical requirements of human populations.  Creating new financial bubbles, maintaining existing financial bubbles, and rent and interest payments, are prioritized over any kind of physical production that supports more humans living better lives.

British System antigrowth propaganda is used as a justification for stopping the nation state system from using increases in the money supply to fund the requirements of human life.  Overspending by government is claimed to be the source of economic instability but the truth is that federal government monetary policy preference is for deficits to create bonds that act as savings that help to stabilize and subsidize the private economy.

Some factions of the British System do promote growth, but that false growth is defined in financial terms that include financial bubbles.  This is one of the strategic errors in the method of quantifying growth calculated using Gross Domestic Product that is mostly corrected using Purchasing Power Parity.

A key feature of the British System is to never allow the student or society the ability to understand how money is actually created in accounting law.  Once money creation is misunderstood then most of the other corrupt nonsense that ultimately benefits oligarchy can be believed.

The one exception in the British System is the followers of John Maynard Keynes in Modern Monetary Theory (MMT) who teach the operational structure of national accounting but have strong Malthusian tendencies because of their lack of knowledge of the physics of industrial science—leading toward negative productivity advocacies such as promoting the backward inefficient technologies of wind and solar power production.  The British System’s MMT movement has numerous antigrowth, false growth, and neo-Malthusian factions because its founders reject any understanding of negentropic physics applied to macroeconomics.

Most of the British System, excluding MMT, is hostile jealous of sovereign nation states having the legal ability to issue currency as they spend through crediting reserve and deposit accounts at private banks—while optionally issuing notes, bills, and bonds as savings and subsidies that never default because more currency can always be issued to make debt service payments.

The hostile jealousy comes from the accounting fact that the private market system loses its ability to keep the economy in debt as sovereign government spending gives the economy the ability to pay down private debt—this is the reason for the constant political pressure by the oligarchic British System to cut government budgets.

Mathematically, the British System is dominated by supply and demand equilibrium theories that claim that markets and production are always tending toward equilibrium.  The application of this method may have merit for homogeneous markets or products but is mostly used for false propaganda applications in British System macroeconomics.

A moderately educated person can figure out that civilizations and financial systems are constantly rising and collapsing and therefore there is no tendency toward equilibrium.  British System equilibrium theories deceptively exclude the dominance of predatory destructive methods inherent within financial systems.

A primary example of teaching destructive British System economics is the Efficient Market Hypothesis.  This crazy free market theory says that the “magic of the marketplace” is always efficient and continues to be used to eliminate government regulations.  This false propaganda was used to deregulate banking that led directly to the economic calamity that is currently immiserating humanity.

In the American System both government and private markets have roles for the economic health and prosperity of nations—but exclusively teaching British System economics in school systems has been clearly identified as destructive to society.

American System

The American System defines economics as the study of how humanity is able to provide the material and cultural preconditions for its continued existence through high rates of technological progress in developing the productive powers, conditions of life, and cultural harmony of civilization—economics is the study and application of how humans produce and distribute physical products and alter the financial, business, and political institutions of society in order to survive and prosper in peace.

In the American System people are wealth, and more humans create more wealth because the origin of all wealth is the growth of the creativity of human cognition and its ability to create science, technology, infrastructure, art, beauty, music, high living standards, optimism, and the love of all humanity and our natural world.

In the American System the usable resource base is defined by the current level of applied cognition also called technology.

The American System of political economy was founded by Alexander Hamilton with his Reports to Congress as a reflection of Benjamin Franklin, Jean-Baptiste Colbert, Gottfried Wilhelm Leibniz, and Lazare Carnot, for the anti-oligarchic humanist purpose of fulfilling the mandates of the United States Constitution and Declaration of Independence.

Historical American System economists and advocates include John Quincy Adams, Mathew Carey, Henry Charles Carey, Friedrich List, Henry Clay, Abraham Lincoln, Shibusawa Eiichi, Fukuzawa Yukichi, Shigenobu Okuma, Erasmus Peshine Smith, H. Graham Lowry, W. Allen Salisbury, and Lyndon H. LaRouche Jr.

Key features of the American System include a federal government that increases the money supply through Congressional spending for all types of private contractor built non-revenue infrastructure; and funds industry, agriculture, science, technology, general welfare, justice, education, state debt, employment, safety, military security, food security, pensions, and health care; while recognizing the requirement of a treasury and national reserve bank for transacting federal spending, economic development, regulating markets, creating notes/bills/bonds, crisis intervention, and net par clearing transactions between banks.

The American System promotes a regulated private and public banking system that uses credit guidance in the local decision-making process of loan origination for low-interest credit creation increases in the money supply for entrepreneurial business, infrastructure, technology, housing, agriculture, commerce, capitalization, exchange, consumption, distribution, education, efficiency, and many other investments that improve productivity.

American System federal spending and national reserve bank capital subsidies are directed toward leveraging small and medium sized banks and enterprises that work together in partnerships to emphasize local credit assessment for productive investments while promoting and protecting strategic industries, science-driver missions, and infrastructure.

The American System promotes private and public asset ownership and markets and corporations that are free to explore nonpredatory methods of profits and interest payments—and are within the constraints and goals of the United States Constitution.  Large corporations, banks, and financial institutions are regulated much more closely than their smaller competitors and if they become destructive to society are put through regulatory reorganization or dissolution.

The American System advocates anti-predatory tax and tariff policies and the promotion and protection of domestic industries for high-income employment and lowering the domestic costs of production.  Tariff protection, currency controls, import/export subsidies, and debt reorganization for strategic industries are recognized as keys to economic development.  High general tariffs that cause inflation and trade war are not recommended.

The American System identifies four basic methods of increasing the sovereign unit of account money supply as: sovereign federal governments issuing currency as they spend, private and public banks creating money through loan origination, national reserve banks buying assets with money they create, and foreign exchange such as when domestic products and services are foreign sold.

The financial mathematical modeling of money creation sectorial balances and totals of the interaction of these four sectors over time are some of the most revealing for understanding financial crises, growth, employment, inflation, inequality, foreign exchange, and taxation in macroeconomic financial analysis in the American System.

In American System national income accounting, federal taxation is a redemption of currency from all methods of increasing the money supply to control inflation, impose penalties, and direct the economy—not to fund the federal government since sovereign federal governments do not need tax receipts as the sovereign issuers of currency.  Yet, excessive foreign debt can cause a loss of sovereignty.

The best federal and state spending for economic development and the best tax and credit guidance policies come from analyzing money creation sectoral balances and totals that are combined with investigating physical principles of industrial science.

In American System physical analysis, the physics of industrial science is studied to prepare society for a better future through industrial policy.  Physics such as energy flux density, work flux density, energy coherence, volumetric energy density, volumetric energy efficiency, principal of least action, machine tool principle, and the investigation into many more physical, cognitive, business, historical, and logistical supply chain processes are taught to students to prepare them to understand the physical reality of how society reproduces.

The American System models the physical economy using synthetic geometry through measuring the rate of increase of potential relative population density compared to actual population levels to determine whether a society is moving in a healthy or unhealthy direction.  The model is a closed continuous non-linear thermodynamic function plotted in its most primitive form as a self-similar spiral on a cone.  The circular surface area created through slicing the cone at some point in time is measured to determine whether a society is moving in an entropic or negentropic direction.  Continued declining surface area is a sign an economy is losing its ability to survive and prosper.

As competent researchers know, all complex mathematical modeling only provides an initial approximation insight for understanding finance and physical reality, and so constant testing against physical and historical outcomes must always guide policies based on macroeconomic modeling.

The history of the industrialization of the United States and Japan clearly demonstrate the superiority of the American System of political economy as this model has evolved over the years.  A modified version of the American System is now being used by the People’s Republic of China as a rising world power.  The question is whether the United States can repeat the past successes of the American System.

American System legislation

The ever-evolving American System founded by Alexander Hamilton has been used many times in the history of the United States.  Classic examples of policies that are consistent with the American System come from the administrations of Presidents Abraham Lincoln and Franklin Delano Roosevelt.

American System legislation and executive orders signed into law by President Abraham Lincoln include the National Banking Acts, Legal Tender Acts, National Academy of Sciences Act, Land Grant College Act, Homestead Act, Railway and Telegraph Acts, and establishment of the Department of Agriculture.

American System legislation and executive orders signed into law by President Franklin Delano Roosevelt include the New Deal Emergency Banking Acts, National Recovery Act, Civilian Conservation Corps, War Production Board, Securities and Exchange Commission, Works Progress Administration, Emergency Relief Appropriation Act, Public Utility Holding Company Act, National Labor Relations Act, and Social Security Act.

The United States Senate investigation into the crash of 1929 directed by Ferdinand Pecora led to the passing of the American System credit guidance legislation Glass- Steagall Act and Commodity Exchange Act.  This legislation created the legal distinction between speculative and productive investments that was primarily in effect in the United States between 1936 to 1982.  This legal distinction has stood the test of time as a key of financial anticorruption credit guidance policy in the American System.

Many more policies and infrastructure projects can be considered American System once the true dynamic of economics is understood.  The Erie Canal, Transcontinental Railroads, Hoover Dam, Rural Electrification, National Credit Corporation, Reconstruction Finance Corporation, Manhattan Project, Tennessee Valley Authority, Interstate Highway System, Medicare, Medicaid, and Project Apollo are more evidence the United States is not a “mixed economy” between capitalism and socialism but has a distinct economic system with a proper name that continues to be excluded from the teaching of economics.

The rudeness and disrespect of calling the American System a “mixed economy” by British System economists and the human suffering caused by exclusively teaching radical free market ideologies in educational systems clearly identifies the oligarchic nature and character of their efforts to push destructive economic religions on a miseducated public.  The exclusion of the American System from university and high school economics education is a clear danger to society.

Recent history

Between 1936–1982, the United States had an American System credit guidance policy that focused on regulating loan origination while preventing the reintroduction of financial instruments into FDIC insured banks that caused the 1929 crash.

This credit guidance policy combined with increased federal and state investments into infrastructure caused a continuing rise of living standards in the United States.  The prosperity of this period was admittedly uneven and in need of additional reform, yet the overall direction was growth and prosperity that benefited the average person.

Deregulation after 1982 lowered credit guidance standards and bank capital and reserve oversight—then attempted reregulation after the 2008 crisis included capital and reserve subsidies and liquidity but excluded the time-proven standards of American System credit guidance.

The misdirected focus on capital and reserve subsidies and regulation instead of credit guidance proved to be an ineffective attempt to rectify the fraud and corruption created through the deregulation of loan origination.

After 1982, banking systems lost the requirement to hold the consequences of bad underwriting as federal and state governments began failing to invest in infrastructure while industries were incentivized to leave the United States.  The combined long-term effect was to deteriorate economic growth and quality of life that is characterized by every category of infrastructure in decline, rising income inequality, episodic high inflation, employment that does not provide a living wage, more children growing up in poverty, malnutrition on the rise, endemic homelessness, life expectancy in decline; and healthcare, education, and housing becoming unaffordable.

Like an alcoholic drug addict, the United States became hooked on futures, options, indexes, swaps, collateralized debt obligations, and other destabilizing parasitical derivatives while the decline in infrastructure and manufacturing that supports high income employment contributed to all the rest of its problems.

Today, the United States must recognize itself as a derivatives alcoholic when witnessing the People’s Republic of China, in the tradition of the American System’s Sun Yat-sen, dramatically raising living standards using local productive credit allocation and the building of brand-new cities using some of the most advanced infrastructure and technologies ever seen on earth.

The United States lost its American System credit guidance policy through teaching oligarchic economics in its school systems and then filled its financial systems full of predatory gambling to the point that other nations are beginning to form economic alliances to protect themselves from the financial imperialism of the United States.

This imperialism is now being recognized by the rest of the world with the rapid rise of the BRICS friendship trade alliance of nations (Brazil, Russia, India, China, and South Africa) that are seeking to find an alternative to predatory financial systems.  The BRICS alliance is offering banking systems that help build infrastructure and industries to improve the lives of citizens—while the United States dollar system is currently only offering derivatives and sanctions that bring lower living standards and more oligarchy to power.

Most of the British System is now recommending a military conflict with the BRICS alliance that can only lead to a genocidal global war.  The peaceful solution is for the United States to return to the American System and join the BRICS alliance in solidarity with anti-imperial nations committed to improving the lives of citizens.

The inevitable collapse of the derivatives bubble will cause the U.S. dollar to lose its status as the primary world reserve currency and necessitate, once again, using American System industrialization to prevent a life-threatening long-term depression and possibly international depopulating war.

Now is the time to bring peace to humanity using the time-proven credit guidance of front office advocacy and back office rigorous examination of credit assessment using American System credit guidance to reverse the oligarchic decline of the United States.

The negative consequences of deregulating banking are so great, and the origin of the problem so clearly defined as the corrupt teaching of the Efficient Market Hypothesis in educational institutions that legislative intervention is justly in order.

The new law should be that any university or high school that fails to teach at least one required course in the American System of political economy shall lose its academic accreditation.

Alaska State Bank

United States Treasury and Federal Reserve capital and guarantee subsidies continuing to support the derivatives bubble since 2008 must be redirected toward physical production or our nation will not survive as an elected democratic republic.  Oligarchy has once again seized power in the United States and bank reform must be back on the agenda.

Looking at the banking reform history of the United States, there have been reforms led by Presidents, Congress, state governments, and financial institutions.  Some of these reforms have had great outcomes and some have not been worthy of repeating, but the overall principle is that the American System model is still the best hope for democratic republics.

Creating the Alaska State Bank as a development bank that uses American System money supply credit guidance is the most straightforward method for Alaska to redirect the financial streams of monetary flow currently subsidizing the predatory derivatives bubble.

The passing of British System Green Bank legislation by the Alaska Legislature is a sign of political interest in reforming banking systems, but that weak legislation can be incorporated into the Alaska State Bank so investments can be directed toward technologies that have measurable performance metrics using evidence-based standards that derive from specifications of industrial science that promote the health of our natural world and prosperity for humanity.

The British System of budget cutting austerity, war, deregulation, privatization, unfair trade, heavy personal taxation, and backward technology deindustrialization must be challenged with American System credit guidance that holds usurious banking practices in check while leveraging funds for the most advanced infrastructure, industries, and technologies.

Many other states are also pursuing the goal of reform through creating public banks now that there is a general recognition that something is terribly wrong in financial systems and the United States is in decline.  Let the Alaska State Bank be a guiding example for other state governments in creating a new national system of public state banks that use American System credit guidance to create a new era of peace, growth, prosperity, and economic development.

Someday in the future, trillions of humans living happy and productive lives in our solar system will look back on the financial reform efforts of today as pioneering efforts in the foundation of modern civilization.  Let us set goals and make contributions of lasting value developed by learning to love all humanity.

Charles E.  Duncan

PO Box 212706
Anchorage, Alaska 99521
asced751@yahoo.com