So, our current governor wants “a little broader discussion.” Interesting, because our current economic discussion continues to be confined to fiscal policy while excluding monetary policy.
If we continue to restrict our discussions to exclude money and banking there will more pain, suffering and a lower standard of living in Alaska’s future.
We must begin discussing the fact that new money is primarily created through the double entry bookkeeping function in bank loan origination. The research papers and corresponding YouTube videos that identify this fact are available on my Alaska State Bank Advocate Facebook page.
Creating a state public bank in Alaska will give the State of Alaska the legal ability to shift many of our current fiscal policy obligations into the loan leveraging and loan origination functions of monetary policy.
Moreover, this new legal ability in cooperation with our federal government and Federal Reserve will give our state the ability to invest in projects that currently are not affordable due to a lack of financing.
Let us begin a new era of prosperity through having an honest discussion about how our economic system actually functions.
Spend some time on the Alaska State Bank Advocate Facebook page and let us have “a little broader discussion.”
