The Oregon State Bank meeting was a success. A success in regards to setting tasks to people so the action can gain momentum. Many tasks were centered around the divestment movement.
What this means is people must start removing their money from the major banks. It almost seems like an obvious solution that people across the country should have picked up on long ago. They failed us, and when an entity fails you, you quit supporting it. Because banks invest our deposited money in other schemes, it would make sense to divest our money as soon as they fail. It removes their ability to invest in these faulty schemes.
The second point of the meeting was to discuss the creation of the Oregon State Bank. This again ties in to divesting in a way. Oregon banks through the major banks, as do our counties, cities, and people. This is in itself a very destructive way of handling our money. When our government and people invest their money in local [community] banks, the money stays local. As a result, the money is recycled through the local economy roughly seven times through job creation, wages, spending, etc.
It would seem we have all been fooled to so thorough a degree by the banks that we have been investing in entities which send the money to foreign markets and even markets across state borders. So what do we do?
Well let's start on a personal level. By participating in
Bank Transfer Day on November 5th you will be making a significant statement as to your feelings about the operations in the current financial market. Then, there is what
San Jose and some other cities have been doing. We must convince local and regional governments to bank through local institutions as well. Again, taking millions of dollars and pumping it into the
local economy. Lastly, we must convince our state which runs billions of dollars through the large banks to create a
state bank so all of the money stays within our state and the immediate region.
