Working Draft of a Proposal to the GA for Endorsement of a New Ideal Banking System

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Proposal to the GA for Endorsement of and Support for a New Banking System (pending agreement within our group on how an ideal bank will operate).

Our proposal seeks approval and support from the General Assembly in principle and in practice for the establishment of a new banking system which will allow a vote for each resident within the area which is serviced by the new system on their bank’s function, management, employee compensation, and the overall desired effects of the institution on their community. In this way, the new banking system will empower all residents to offer a proposal to determine the strategy of the bank and its means of accomplishing that strategy, or to amend or abolish proposals which have been created in the past. These proposals, which will be the right and responsibility of the People to determine for themselves and to hold the bank’s leaders accountable for their succes or failure in implemeniting them, will include, but not be limited to, policies which govern the overall lending strategy of the intuition(s) and the goals for our economy and our civilization which these loans are intended to accomplish, the interest rates on loans, and how interest from loans will be used to shape our way of life. Additionally, all residents will be entitled to vote on who will manage these banks, how they will be compensated, and how they will campaign for election.

We are not asking for funds from the general GA fund to start this bank. To the contrary, we within the alternative banking group will seek to raise funds ourselves in a transparent and accountable manner for the purpose of establishing the first bank of this type here in NYC with the goal of establishing many additional branches around the world shortly thereafter. To do this, those of us who are willing and able will become professional fundraisers, we will hire other fundraisers, we will seek grants, donations, use agreements in exchange for services, and/or actual purchasesto acquire the property, equipment, currency, and other assets that will be necessary to start an operational, competitive, directly democratic, and ethical bank as soon as possible. We will then seek to utilize this new banking system to develop ethical small businesses within NY with a preference for encouraging business ownership within like-minded and principles driven individuals such as those within Occupy Wall Street. Every effort will be made to facilitate and grow local and international trade to create a trade surplus and thereby restore ltangible and sustainable prosperity locally and nationally.

In exchange of for the endorsement of our system by the New York General Assembly and other occupy movements around the world, and the privilege of establishing the website for our bank under the NYCGA website under the Alternative Banking Working Group tab, we will work closely and cooperatively with OWS to provide housing, food, water, free education and training, business development assistance, and a sustainable source of funding for OWS in a way that leads to the success of the movement in effecting real change in our world which will be completely consistent with OWS’s stated goals and principles.

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