Alaska should establish public bank

China leads the world in support of the US dollar. As of June this year China has $3,771,347,000,000 dollars. That’s right, more than 3.77 trillion dollars. That is the amount they have in their foreign reserves. They have more dollars than any foreign nation on the planet. More than triple what Japan (second largest holder) has in dollar reserves. It is what they are using to establish the Asia Infrastructure Investment Bank (AIIB).

Alaska has 52 billion dollars in our reserve account called the Permanent Fund. Too bad Alaska does not start its own Alaska Infrastructure Investment Bank (also called public Bank of Alaska). Rather we have placed our reserves in nations like China to the tune of $452 million. Meanwhile we hope some private corporation will build our infrastructure.

Who should control our natural resources, the people or businesses?