The U.S. Postal Savings System - an alternate bank or another arm of the FED?Submitted by clynbrit on Wed, 08/15/2012 - 08:56
I don't know what Ron Paul would think of this or even if it is a good idea. This came in my email and I am passing it along to see what you think.
The U.S. Postal Savings System: by Ellen Brown president of the Public Banking Institute
On July 27, 2012, the National Association of Letter Carriers adopted a resolution at their National Convention in Minneapolis to investigate establishing a postal banking system. The resolution noted that expanding postal services and developing new sources of revenue are important to the effort to save the public Post Office and preserve living-wage jobs; that many countries have a successful history of postal banking, including Germany, France, Italy, Japan, and the United States itself; and that postal banks could serve the 9 million people who don’t have bank accounts and the 21 million who use usurious check cashers, giving low-income people access to a safe banking system. “A USPS bank would offer a ‘public option’ for banking,” concluded the resolution, “providing basic checking and savings – and no complex financial wheeling and dealing.”