GREAT!!!<br /><br /><br /><br />> ---------------------------- Original
Message ----------------------------<br />> Subject: letter to the
Editor-1/21/14<br />><br />From: agnes@mcn.org<br />> Date:
Tue, January 21, 2014 11:26 am<br />>
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/>> <br />> Letter to the Editor:<br />> <br />> Mendocino
County Public Bank Coalition members, Robin,and Mary were<br />>
derailed by Supervisor Pinches' responses to their education campaign
in<br />> his office regarding the Charter and a public Bank. My answer
to<br />> supervisor Pinches is:<br />> <br />> Until Supervisor
Pinches realizes how banks make new money when<br />> they make a
deposit of a loan in a depositors account he will not<br />> realize
the value of a Charter with the power to authorize a<br />> public
bank.<br />> <br />> If he had read chapter 2 in the "Public
Banking Solution" book by Ellen<br />> Brown he would realize the
truth about the fractional-reserve system of<br />> banking and how
banks can loan out 90% of their deposits in their<br />> accounts using
new money to loan out, thereby increasing the amount of<br />> money
in circulation.<br />> He will be ready to see how Banks control the
economy by making loans to<br />> depositors or with-holding loan
making which squeezes the economy by not<br />> putting new money into
circulation. And then he would realize what a<br />> Mendocino County
Public Bank can do by using fractional reserve as other<br />> private
banks do, but, only for the benefit of Mendocino County. The Bank<br
/>> of North Dakota, a publicly owned bank also uses fractional
reserve<br />> system of banking. their economy did not suffer in the
2008 economic<br />> crisis. you may say it's because they have oil
revenues, but Minnesota<br />> also has oil reserves and they suffered
with higher unemployment becuse<br />> they don't have a Publicly owned
Bank.<br />> <br />> In addition as elected officials, Supervisors
have the power to use<br />> eminent domain on securitized mortgages
with lost chain-of-title, re<br />> valuate underwater loans, sell them
back to capable owners at current<br />> market value, thus creating an
income stream to the County Public Bank<br />> once it's<br />>
established. With Eminent domain mortgage holders must prove they own
the<br />> note, otherwise there's no one to whom market value must be
paid for<br />> Eminent Domain.<br />> <br />> A Public Bank can
be capitalized with $20 million in County Rainy Day<br />> Funds which
sit idle,and County Retirement Funds and/or School bonds.Each<br />> of
these organizations may have a seat on the Public Bank Bank Board if<br
/>> they agree to capitalize the County Public Bank.<br />> <br
/>> If the supervisors would go to www.tucradio.com and look for the
Ellen<br />> Brown Presentation of her book "The Public bank
Solution", they could be<br />> enlightened. Also visit
www.mendocinotv.com, see the taped book event on<br />> Doug McKinty's
show.<br />> Please urge your supervisors to put the Mendocino County
Charter on the<br />> ballot.<br />> <br />> Sincerely,<br />>
Agnes Woolsey<br />> P.O. Box 163,Mendocino,CA 95460<br />