Dilute Wall Street.
This amazingly simple yet powerful idea takes its example from, of all places, the state of North Dakota, which has operated the Bank of North Dakota since 1919.
It works like this – the state charters a public bank.
Instead of placing reserves, tax revenues, deeds for lands, and so forth with underwriters and Wall Street, it puts it all in our public bank.
At home, we own a reserve bank, multiplying many times, to generate loans, a local lender. And watching our money supply.
Paul Krugman said:
“Neither the administration, nor our political system in general, is ready to face up to the fact that we’ve become a society in which the big bucks go to bad actors, a society that lavishly rewards those who make us poorer.”
Bring it close.
Put capture on its head.