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Ellen Brown is an attorney, founder of the Public Banking Institute, and author of twelve books including the best-selling WEB OF DEBT. In THE PUBLIC BANK SOLUTION, her latest book, she explores successful public banking models historically and globally. Her websites are http://EllenBrown.com, http://PublicBankSolution.com, and http://PublicBankingInstitute.org.
Trump's War on the Fed
Higher interest rates do not serve consumers, home-buyers, businesses or governments. They serve the banks that dominate the policy-setting FOMC. The president's critiques of the Fed, however controversial, have opened the door to a much-needed discourse on whether the fate of the economy should be in the hands of unelected bureaucrats marching to the drums of Wall Street.
Wednesday, October 3, 2018(1 comments)
Breaking with Wall Street: L.A. Puts It to the Voters
The numbers are there to support the case for a Los Angeles city-owned bank, but a critical ingredient in effecting revolutionary change is finding the political will. The L.A. City Council has it, and is taking the matter to the voters.
Saturday, September 15, 2018(20 comments)
Central Banks Have Gone Rogue, Putting Us All at Risk
Central bankers are now aggressively playing the stock market. To say they are buying up the planet may be an exaggeration, but they could. They can create money at will, and they have declared their "independence" from government. They have become rogue players in a game of their own.
Monday, July 30, 2018(14 comments)
Trump Takes on the Fed
The president has criticized Federal Reserve policy for undermining his attempts to build the economy. The best way to make the central bank serve the needs of the economy is to make it a public utility.
Blackstone, BlackRock or a Public Bank? Putting California's Funds to Work
California has over $700 billion parked in private banks earning minimal interest, private equity funds that contributed to the affordable housing crisis, or shadow banks of the sort that caused the banking collapse of 2008. These funds, or some of them, could be transferred to an infrastructure bank that generated credit for the state -- while the funds remained safely on deposit in the bank.
Wednesday, April 4, 2018(11 comments)
The Bayer-Monsanto Merger Is Bad News for the Planet
Global food control has nearly been achieved, by reducing seed diversity and establishing proprietary control with GMO seeds distributed by only a few transnational corporations, led by Monsanto; and by a massive, taxpayer-subsidized propaganda campaign in support of GMO seeds and neurotoxic pesticides.
Monday, March 19, 2018(18 comments)
The War on the Post Office
The US Postal Service, under attack from a manufactured crisis designed to force its privatization, needs a new source of funding to survive. Postal banking could fill that need.
Wednesday, February 28, 2018(8 comments)
Funding Infrastructure: Why China Is Running Circles Around America
While American politicians argue endlessly about where to find the money, China has been forging full steam ahead with its mega-projects. Where do the banks get the money? Basically, they print it. Not directly. Not obviously. But as the Bank of England has acknowledged, banks do not merely recycle existing deposits but actually create the money they lend by writing it into their borrowers' deposit accounts...
Thursday, January 25, 2018(7 comments)
How Uncle Sam Launders Marijuana Money
In a blatant example of "do as I say, not as I do," the US government is profiting handsomely by accepting marijuana cash in the payment of taxes while imposing huge penalties on banks for accepting it as deposits. Onerous reporting requirements are driving small local banks to sell out to Wall Street. Congress needs to harmonize federal with state law.
Saturday, January 6, 2018(19 comments)
Student Debt Slavery: Time to Level the Playing Field
We need to free our students from the system of debt slavery that has financialized education, turning it from an investment in human capital into a tool for exploiting the young for the benefit of private investors. State-owned banks can make the loan process fair, equitable and affordable; but their creation will be fought by big bank lobbyists. An organized student movement could be an effective counter-lobby.
Wednesday, December 27, 2017(26 comments)
Student Debt Slavery: Bankrolling Financiers on the Backs of the Young
Graduates leave college with a diploma and a massive debt on their backs, averaging more than $37,000 in 2016. The government's student loan portfolio now totals $1.37 trillion, making it the second highest consumer debt category, behind only mortgage debt. Student debt has risen nearly 164 percent in 25 years, while median wages have increased only 1.6 percent.
Sunday, November 5, 2017(17 comments)
The Public Bank Option -- Safer, Local and Half the Cost
Phil Murphy, a former banker with a double-digit lead in New Jersey's race for governor, has made a state-owned bank a centerpiece of his platform. If he wins on November 7, the nation's second state-owned bank in a century could follow.
How to Wipe Out Puerto Rico's Debt Without Hurting Bondholders
During his visit to hurricane-stricken Puerto Rico, President Donald Trump shocked the bond market when he told Geraldo Rivera of Fox News that he was going to wipe out the island's bond debt. How did he plan to pull this off? Here's one possibility.
Thursday, October 5, 2017(33 comments)
How to Fund a Universal Basic Income Without Increasing Taxes or Inflation
The policy of guaranteeing every citizen a universal basic income is gaining support around the world, as automation increasingly makes jobs obsolete. But can it be funded without raising taxes or triggering hyperinflation? In a panel I was on at the NexusEarth cryptocurrency conference in Aspen September 21-23rd, most participants said no. This is my rebuttal.
Tuesday, July 25, 2017(10 comments)
Saving Illinois: Getting More Bang for the State's Bucks
Illinois is teetering on bankruptcy and other states are not far behind, largely due to unfunded pension liabilities; but there are solutions. The Federal Reserve could do a round of "QE for Munis." Or the state could turn its sizable pension fund into a self-sustaining public bank.
If China Can Fund Infrastructure with Its Own Credit, So Can We
This week has been designated "National Infrastructure Week" The message: "It's time to rebuild." Ever since ASCE began issuing its "National Infrastructure Report Card" in 1998, the nation has gotten a dismal grade of D or D+. In the meantime, the estimated cost of fixing its infrastructure has gone up from $1.3 trillion to $4.6 trillion.