Moscow creates vast new bank from Post Office

 Moscow creates vast new bank from Post Office

I am shocked at my own narrow view expressed in prior blog entries of what is happening to the Postal System as a victim of Private Enterprise working through the government in the USA to sideline our Postal System to its benefit, not ours.

We are not the only country that has a Postal System!  Why did I not think to look at other countries?  American Exceptionalism?  We might be a victim of our system but others might not.  They might even recognize the benefit and build on it.

Moscow is doing it in a public/private partnership?  Yes, maybe but who rules, sets the rules, has control?

Ooops:

"According to the minister, after the renaming of Leto Bank as Post Bank, VTB will keep 50% plus 1 share of the new entity while the rest will be acquired by Russian Post."

But VTB is  state owned bank.

We have one of those in North Dakota

Our only one I think.  Owned by a state of North Dakota.  Different than the one owned by the Russian state. 

Perhaps the US should follow the Russian Model.

Give Post Office banking to the Bank Of North Dakota.

Instant bank branches everywhere.

http://www.motherjones.com/mojo/2009/03/how-nation%E2%80%99s-only-state-owned bank-became-envy-wall-street

"The Bank of North Dakota is the only state-owned bank in America—what Republicans might call an idiosyncratic bastion of socialism."

Someone submitted this comment:

"In a history class I took decades ago, the professor noted that the socialists traveling from Minnesota into North Dakota to organize farmers into the Nonpartisan League called themselves Republicans to avoid being rejected by a possible fear of "Bolsheviks." They were so successful that the farmers developed cooperatives and other programs that have ever since helped them and North Dakota's economy maintain a state of well being." 

The Bank of North Dakota is an extremely small potato bank for the US government to go into Postal System partnership with.  But it is the only state bank in the country, I think.  Other states are looking into state banks.

Small potato Bank of North Dakota might be an advantage because the first thing that would have to be done is call in Big Tech.  Call in Big Tech conglomerate that just created the Washington Lobby:  Financial Innovation Coalition.  The Conglomerate would probably design and implement a Postal Banking System pro bono just to get their Tech dominating foot in the door to restructure Finance!