What We Could Do with a Postal Savings Bank: Infrastructure that Doesn't Cost Taxpayers a Dime | WEB OF DEBT BLOG

Ellen Brown has published an article advocating for a US Postal Bank. It's not the first time she's called for that. It also wouldn't be the first time the Postal Service has been involved in such, as her article makes clear.

What We Could Do with a Postal Savings Bank: Infrastructure that Doesn't Cost Taxpayers a Dime | WEB OF DEBT BLOG.


Tom Usher

I don't agree that Obama's handshake has the force of law in this instance. Neither do I believe that FDIC-insured accounts are at risk because the FDIC has only $32 billion. I'm confident that the people with the accounts would make sure that Congress would make sure that all FDIC-insured accounts are immediately backstopped by the full faith and credit of the US. In other words, the people would bail themselves out, not that Ellen isn't completely right that the super-priority status for derivatives in such situations is disgusting and should be universally revoked by federal law (Winner Takes All: The Super-priority Status of Derivatives). I do, however, fully agree that the Post Office has been targeted and that a public bank in the form of a US Postal Bank is a good idea, short of the Christian Commons.

If we refuse to allow our government to make money through public enterprises, we will be destined to bear the burden of supporting government with our taxes, while we watch countries such as China, Korea and Japan, which do allow public industries, enjoy the fruits of that profitable and efficient arrangement.

They are under attack too, a great deal of pressure to privatize for the sake of global plutocrats, not the general population.

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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