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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.
(20 comments) SHARE Saturday, September 15, 2018 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.
(22 comments) SHARE Monday, December 8, 2008 Sustainable Government: Banking for a "New" New Deal
Obama has started his version of Roosevelt's "fireside chats." He has said he plans to create 2.5 million new jobs by 2011 and kick-start the economy by building roads and bridges, modernizing schools, and creating technology and infrastructure for renewable energy. These are excellent ideas, but what will they be funded with - more government debt? There is another alternative . . .
(19 comments) SHARE Saturday, January 6, 2018 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.
(13 comments) SHARE Wednesday, August 19, 2015 Trumping the Federal Debt Without Playing the Default Card
The government can reduce the debt by buying it -- and ripping it up. The debt can be bought either with debt-free U.S. Notes of the sort issued during the Civil War, or with U.S. dollars issued by the Federal Reserve--a kind of "quantitative easing" for the people.
(4 comments) SHARE Tuesday, January 10, 2012 Saving the Post Office: The Models of Kiwibank and Japan Post
Claiming the Postal Service is bankrupt, critics are pushing legislation that would defuse the postal crisis by breaking the backs of the postal workers' unions and mandating widespread layoffs.
(12 comments) SHARE Tuesday, March 10, 2020 The Fed's Baffling Response to the Coronavirus Explained
In an attempt to contain the damage, the Federal Reserve on March 3 slashed the fed funds rate from 1.5% to 1.0%, in its first emergency rate move and biggest one-time cut since the 2008 financial crisis. But rather than reassuring investors, the move fueled another panic sell-off.
(34 comments) SHARE Tuesday, July 26, 2016 Japan's "Helicopter Money" Play: Road to Hyperinflation or Cure for Debt Deflation?
Fifteen years after embarking on its largely ineffective quantitative easing program, Japan appears poised to try the form recommended by Ben Bernanke in his notorious "helicopter money" speech in 2002. The Japanese test case could finally resolve a longstanding dispute between monetarists and money reformers over the economic effects of government-issued money.
(3 comments) SHARE Tuesday, November 12, 2013 Public Banking in Costa Rica: A Remarkable Little-known Model
In Costa Rica, publicly-owned banks have been available for so long and work so well that people take for granted that any country that knows how to run an economy has a public banking option. Costa Ricans are amazed to hear there is only one public depository bank in the United States (the Bank of North Dakota), and few people have private access to it.
SHARE Saturday, June 14, 2008 What's the difference between Lehman Bros and Bear Stearns? Lehman's CEO is on board of NY Fed
Bear Stearns, far from being "rescued" by JPMorgan, was eaten alive. But Lehman Brothers, the next investment bank expected to fall, probably WILL be rescued by the Fed. What's the difference? The CEO of Lehman Brothers -- like that of JPMorgan and unlike that of Bear Stearns -- sits on the Board of the NY Fed . . . .
(12 comments) SHARE Friday, March 14, 2014 Warren's Post Office Proposal: Palast Aims at the Wrong Target
Investigative reporter Greg Palast is usually pretty good at peering behind the rhetoric and seeing what is really going on. But in tearing into Senator Elizabeth Warren's support of postal financial services, he has done a serious disservice to the underdogs -- both the underbanked and the US Postal Service itself.
(6 comments) SHARE Tuesday, May 3, 2016 Bank of North Dakota Soars Despite Oil Bust: A Blueprint for California?
Despite North Dakota's collapsing oil market, its state-owned bank continues to report record profits. This article looks at what California, with fifty times North Dakota's population, could do following that state's lead.
(39 comments) SHARE Saturday, February 9, 2019 The Venezuela Myth Keeping Us From Transforming Our Economy
Modern Monetary Theory (MMT) is getting significant media attention these days, after Alexandria Ocasio-Cortez said in an interview that it should "be a larger part of our conversation" when it comes to funding the Green New Deal. According to MMT, the government can spend what it needs without worrying about deficits.
(20 comments) SHARE Monday, February 25, 2013 How the Fed Could Fix the Economy--and Why It Hasn't
Quantitative easing (QE) is supposed to stimulate the economy by adding money to the money supply, increasing demand. But so far, it hasn't been working. Why not? Because as practiced for the last two decades, QE does not actually increase the circulating money supply. It merely cleans up the toxic balance sheets of banks.
SHARE Thursday, March 4, 2010 IMF-STYLE AUSTERITY COMES TO AMERICA
In addition to mandatory private health insurance premiums, we may soon be hit with a "mandatory savings" tax and other belt-tightening measures urged by the President's new budget task force. These radical austerity measures are not only unnecessary but will actually make matters worse. The push for "fiscal responsibility" is based on bad economics.
(8 comments) SHARE Saturday, March 20, 2010 The Growing Movement for State-owned Banks
As the states' credit crisis deepens, four states have initiated bills for state-owned banks, and candidates in seven states have now included that solution in their platforms.
(11 comments) SHARE Wednesday, May 11, 2011 INFLATION FEARS: REAL OR HYSTERIA?
Far from inflation being the problem, the money supply has shrunk and we are in a deflationary bind. The money supply needs to be pumped back up to generate jobs and productivity; and in the system we have today, that is done by issuing bonds, or debt.