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Why Public Banks Outperform Private Banks: Unfair Competition or a Better Mousetrap?

by Ellen Brown – Previously published (10 Feb 2015) on The Web of Debt Blog, Global Research. See also: A Public Bank Option for Scotland (7 Sep 2014).

Public banks in North Dakota, Germany and Switzerland have been shown to outperform their private counterparts. International private competitors have responded by pushing for regulations limiting the advantages of the public banking model, but public banking advocates are pushing back.

In November 2014, the Wall Street Journal reported that the Bank of North Dakota (BND), the nation's only state-owned bank, "is more profitable than Goldman Sachs Group Inc., has a better credit rating than J.P. Morgan Chase & Co. and hasn't seen profit growth drop since 2003." The article credited the shale oil boom; but as discussed earlier here, North Dakota was already reporting record profits in the spring of 2009, when every other state was in the red and the oil boom had not yet hit. The later increase in state deposits cannot explain the bank's stellar record either.

Swiss Democracy wins referendum to apply quotas to immigration numbers

On 9 February 2014, a Yes vote of more than 50% was obtained and the referendum to have a quota limiting immigration to Switzerland has now passed. Three referendums were held in Switzerland on this day. Voters were asked whether they approved of a proposal to impose a quota on immigration, a federal decree on the financing and expansion of the rail network and a federal popular initiative on abortion. Further referendums are planned for 18 May, 28 September and 30 November, with one to include a proposal on guaranteed income. Note also inside, Malthus on Switzerland's history of population stability.

Swiss Eco Group Forces Immigration Vote

A left-wing environmentalist group opposed to all forms of racism and xenophobia has been able to get a national immigration referendum on the ballot in Switzerland.

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