Support SB 5464 Establishing the Washington Investment Trust

WHEREAS Jefferson County Democrats’ bylaws support policies that sustain an
economically vital community;

WHEREAS revenues from every agency of government (cities, counties, and state) are deposited with large national banks and these depositors have the status of unsecured creditors and these deposits have the status of unsecured loans;

WHEREAS each of our government entities pays for the privilege of having their
monies processed by those banks;

WHEREAS the too-big-to-fail banks have been insolvent in the past and laws and bank procedures that led to these failures have not changed;

WHEREAS if these banks were to fail they would seriously threaten our city, county, and state revenues;

WHEREAS in a publicly owned state bank, interest would become revenue rather than
debt, which would reduce our need for taxes and provide money for public projects;
and

WHEREAS creation of a state investment trust would allow the people of Washington to own and control our own funds and our state would reap the interest that is now paid to the banks.

THEREFORE BE IT RESOLVED that we, the undersigned Democrats residing in Jefferson County, urge Senator Kevin Van De Wege to co-sponsor SB 5464, establishing a Washington investment trust.

Submitted on February 6, 2017 by:
Celeste Bennett, bennetthastings@yahoo.com, (206) 295-8578
R. Sidney Collins, lertul4koro@yahoo.com, (360) 344-2123
Carol Gallup, carolg2020@gmail.com, (360) 379-4795
Norm Norton, norm@eaglemount.com, (360) 732-4723
Lawrence Scoville, carolg2020@gmail.com, (360) 379-4795
David Tonkin, z9davton@q.com, (360) 302-1446

 

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