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Old 12-04-2014, 02:36 AM
Danny B Danny B is offline
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Join Date: Oct 2012
Location: L.A. Ca.
Posts: 4,891
Tax deposits in public banks

As everyone knows, sate and local GOV collect taxes and deposit them in a bank. The bank charges interest on loaning those funds. The bank can throw those funds around wherever they want.
North Dakota is different.
"According to an analysis done of the Bank of North Dakota by the New England Public Policy Center back in May 2011, a majority of the state bank’s deposits are from tax collections and state fees. Last year the only state bank in the nation reported out its ninth year of record profits with a total asset base of $6.1 billion. The state got a 17.6 percent rate of return on its investment."
These numbers show why establishment banking so so DOWN on state banks.
Big banks broke America: How to achieve the ultimate revenge against them now - Salon.com
That 17.6 % return is a pretty good investment.
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