Why Must We Establish The Citizen’s United Financial Institution?
We need banks that work for the benefit of the people, not people working for the benefit of the banks.
The economy is collapsing due to lack of demand, and it needs money. Despite over seven hundred billion bailout dollars handed over to them, the banks are not lending. The Citizen’s United Financial Institution will end that for all Floridian residents and businesses without costing a dime to taxpayers.
The Citizen’s United Financial Institution can pay safely 6% interest on CD’s by using the same fractional reserve rules employed by all US banks today. This means that it can create nine dollars of new money from every dollar in deposits it attracts. It can then turn around and loan up to nine dollars in the form of 2% fixed rate, 15-year mortgages. For every hundred dollar deposit, the BSF earns up to $18 and pays out only $6 annually. The net is a win win situation for all Floridians.
These benefits will lead to the creation of more jobs than any so-called stimulus package and will also reduce the total interest cost on a home by up to 85%, for the average Floridian family. All of this and much more, just by creating the Citizen’s United Financial Institution.
11 Responses to “Why Must We Establish The Citizen’s United Financial Institution?”
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Straightforward and brilliant idea! It will allow the state and local government to create DEBT FREE money. Meaning no more taxes! This will certainly help public works reduce unemployment, while lowering the costs of borrowing and increasing the return on savings to Floridians. I am all for that! Why didn’t our politicians think of this before?
We need you in office ASAP. This economy is getting worse each day and we definitely need someone of your caliber to take control. I firmly agree that we need an Economist to fit this position.
you need to be clear on how the bank can pay 6% on deposits then only charge 2% on loans. I know how you are doing it but if I didn't already understand banking I would think you were full of it.
For all you that don't know what Billie Boy is talking about, go here:
http://www.youtube.com/watch?v=nH2-37rTA8U&NR...
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