Dátum/Idő
05.19. 19:00
Kategória(k)
Democratic Social Bank System
Banks and financial institutions become a channel for industrial-scale corruption, endemic tax evasion by the rich and other forms of criminality. The uncontrolled and huge amounts of money flows are serving only short-term profits. One result of these developments has been the massive diversion of funds away from manufacturing and the real economy, towards speculation on a grand scale. Even worse, it has produced an unprecedented expansion of debt.
Instead of governments controlling the banks, the banks and the money markets now control governments. The financial sector needs to be brought under democratic public ownership and control in order to serve the interests of the 99% of the population who it currently exploits and neglects.
A democratic public banking industry could deliver much cheaper services for account holders, lower interest rates on loans and credit card charges, along with special assistance for individuals and small businesses to help them to better manage their finances and develop their plans, innovate and so on.
The speaker of the event Tim Horvath (from Denmark) is part of an international network that has initiated an international discussion with the aim to propose a democratic public banking service.