REPORT ON INTERIM STUDY HB 672 (meetings held in 2016)
For those unable to attend our interim study sub-committee meetings for HB 672, you might find this report to be informative.
Our goal was specific as well as general. We held several public hearings involving:
NH state treasurer- would do as the NH legislature directs
NH state banking commissioner- audit the state bank like any other NH bank. He would want to see the business plan and capitalization plan.
The Dartmouth Public Policy Shop found that a state bank is constitutional and recommended further study.
Former and current chair of the public banking institute-supportive of NH and 20 other states and municipalities exploring public banking
Director and Assistant Director of the NH Municipal Bond Bank- no opposition expressed
Executive Director of the NH Housing Authority-no opposition expressed
The Director of Financial Market Relations-International banking- from Deutsche Sparkassen- Dr. Thomas Keidel who earned his doctorate at the European Business School in Ostrich-Winkel. The Sparkassen foundation includes development assistance which has extended us a very generous offer to provide most of the data to determine the outcomes of a public bank.
A Banker from The Bank of NH-expressing his personal opposition.
A NH Banker's Association Lobbyist expressing his concerns.
Positive feedback from the public.
Positive remarks from other NH State Representatives.
Pre-Feasibility study done by Mr. Scott Baker- author of "America is not Broke" has determined that NH has enough money to capitalize a bank.
NH compares to the state of Vermont who's data study showed great promise and growth with a public bank. VT will be introducing legislation for a public bank, based on their great success from the expansion of their VT development authority.
A public bank is a fiscally responsible way to manage our tax payer's money.
I feel that with the information we gained from our interim study was very positive.
A new and improved bill has been introduced; HB 17-0356. We will be structuring it from the information we learned in our interim study and will amend it to incorporate the information provided from the German Sparkasse Foundation.
Lincoln stated: "I don't know much about the tariff, but I know this much: When we buy manufactured goods abroad we get the goods and the foreigner gets the money. When we buy the manufactured goods at home, we get both the goods and the money."
"Let me issue and control a nation's money, and I care not who writes its laws" - Amschel Rothschild ~ 1790
THE NEW ECONOMISTA'S
Join in the fun and sing along to familiar tunes as the new economista's parody our banking system!
Where's The Money?
BANKING ON NEW HAMPSHIRE
A Bill to effect change through legislation: NH 17-0356,
to establish a state bank