Skip to main content

Alternatives to Big Banks

There are other alternatives to banking with the corporately owned big banks that screw over the little guy. Some of these alternatives are being used around the world and in a couple of places in the U.S. Alternative currency keeps local cash locally. Some foreign cities where this is being used is Basel, Switzerland, Nantes, France, and Bristol and Brixton, England. The Banque WIR, an alternative to the Swiss franc, has been using its own currency, the WIR, since 1934. Nantes created its own currency based on the WIR. Also, there are the Bristol pound and the Brixton pound used as alternative versions of the British pound. Here in the U.S., there is Ithaca, New York, called the Ithaca Convertible, one Ithaca dollar equals one U.S. 1 dollar. Then there is the Deli Dollars that arrived in 1989, started by Frank Tortoriello, a deli owner sold $10 for $8 to be used in his refurbished deli; followed by Massachusetts’ Berkshire Farm preserve notes or BerkShares in the early 1990s. San Fransisco’s Bay Bucks is a business-to-business barter system. The BerkShares and "Deli Dollars," are examples of funding the costs upfront for a business to make improvements or expansions with the public buy-in. The people need to have control over the money and the more control the better for the economy as a whole. The other thing the people should look at is the U.S. Postal Service taking on banking jobs, which would be a huge benefit to working people. We should also look very hard at state banks, like North Dakota has, which keeps money in the state for use for the North Dakotans, which is much like local types of money. The money stays local and supports local government in taxes and local investments and not Wall Street and big international banks. This is why North Dakota rebounded better after the great recession that most other states. There is also the is the bitcoin, a digital monetary and payment system started in the late-2008, and is referred to as “cryptocurrency.” The system operates on a peer-to-peer transaction without an intermediary bank and considered first decentralized digital currency, and has a total market value. Remember, the power is who controls the cash for they can buy the power and votes. If the people, the wage slaves, control the money, change can be made, like the fight for $15 an hour minimum wage, single-payer health care, pensions, unions, protecting the environment, just to name a few. Wall Street, big business, the 1 percent, corporate-owned media, big banks, and politicians,who’ve been bought by these entities, have dumbed the masses down with reality television, biased news and the big banks penalizing and essentially stealing people’s money with “fees” and squashed attempts by 20 states to form their own banks, which has left the masses feeling frustrated, hopeless, and overwhelmed. One way to take back your power is to bank with a local credit union or banking entity rather than with the major banks, like Bank of America, Chase-Manhattan, and Wells Fargo.

Comments

Popular posts from this blog

Time for an Offense

There are three phases of a general strike and unions must plan for one. Those three phases are: 1. general strike in an industry 2. general strike in a community 3. general national strike We need to move away from being on the defensive and move toward a good offensive. The American Federal of Labor (AFL) could not have held a general strike if it wanted to because they had thousands of different contracts that expired at different times of the year. This was done deliberately so that there is no consolidation of power for a general strike. Also, nowadays, there is no law agency that will support labor, except the National Labor Relations Board (NLBR), which has been under attack and in decline for years. This leaves the burden of change up to unions, and unless unions work together, little will change. We essentially have a combination of job trusts, which are not as strong as contracts, and the courts can break easily because the NLBR will be further weakened and essentially elim...

If Gompers Could Do It, We Can Do It

Labor must vote for the person who will support and vote for labor’s best interests. And in turn, labor members have to support those who are running for office who support labor unions and vote down ballots. Voting down ballot gives the person at the top more power to do what’s best for us. This includes elections for city, county and state positions, as well. If you think a four day work week is wishful thinking, remember workers had to fight for an eight-hour work day and a five-day work week. We, labor members and supporters, need to find people who can fight and win. We need to clean the Congress and Senate of the old Democratic guard who have voted repeatedly to hold the working class back while enriching themselves. This would rebuild solidarity in a magnitude greater than anything either party has seen or offered in the last fifty years. If we can bring about the change in the ruling class we can improve all of our lives. This would be the start of the end of the tyranny of the...

Shock Troops

Gerrymandering is the only legal form of voter theft. Workers, our long range plans should involve 1. crushing Citizens United; and 2. getting rid of the Electoral College. We have been trying to get rid of the electoral college since 1876, and we are still waiting for the revolt. Our unions need to start training some members to be our shock troops and if all unions would do this and work with our local Labor Councils, it would be a good start. Our members need to know our labor laws, local laws, and learn how to protest in the streets if necessary. The antiunion people like Trump, Musk and his billionaire friends work together to crush the working people and convince workers they’re doing them a favor and then use them as shock troops against unions and their workers. All union and nonunion working people must come together and work together to protect what we have now. Labor Councils have retired union members and they could work together to prepare to bring the movement forward....