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Interview Transcript: Ellen Brown; Public Banking-- the Bottom Up Solution to a Lot of Economic Ills

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I interviewed Ellen Brown on April 30th.  This is part one of a two part interview. Here's a link to the audio podcast.

Thanks to Don Caldarazzo   for doing the transcript.

Also, check out the Public Banking Conference , June 2-4, here.


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BIO:
Ellen Brown is an attorney, president of the Public Banking Institute, and author of 11 books. Her websites are http://WebofDebt.comhttp://EllenBrown.com, and http://PublicBankingInstitute.org. In her latest book, "Web of Debt: The Shocking Truth About Our Money System and How We Can Break Free," she shows how the power to create money has been usurped from the people and how we can get it back. 
OEN Member Page for Ellen Brown
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by Ellen Brown

Rob Kall:   And welcome to the Rob Kall Bottom Up Radio Show, WNJC 1360 AM out of Washington Township, reaching metro Philly and South Jersey.  My guest tonight is Ellen Brown.  Now, Ellen Brown could be THE world expert on public banking.  When I think of public banking, I think of Ellen Brown.

 

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Ellen Brown:   (laughs)

 

Rob Kall:   She has been writing on this for a long time.  She's got a book out: The Web of Debt: The Shocking Truth About Our Money System, and How We Can Break Free.  Welcome to the Show!

 

Ellen Brown:   Thanks Rob!  Great to talk to you.

 

Rob Kall:   Really good to have you here, back again.  Now, a couple things.  I want to get some definitions set up, because you talk about ideas and concepts that are really important, that touch everybody's lives, but I don't know that everybody really understands some of the ideas.  So let's start off with derivatives and the Glass-Steagall Act.  Could you describe what each of those are?

 

Ellen Brown:   OK.  Well, the Glass-Steagall Act was passed in 1934 and it separated investment banking from depository banking.  Before that, the banks we commingling their funds; so if they did some wild investments that went bad, they took those from the depositors' funds.  For many years after Glass-Steagall was imposed, things went along fine.  Then they repealed Glass-Steagall in 1999 - supposedly to help the banks, to help them with their market share - because (laughs) they were losing market share.  For this reason, they changed the law. 

 

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Rob Kall is an award winning journalist, inventor, software architect, connector and visionary. His work and his writing have been featured in the New York Times, the Wall Street Journal, CNN, ABC, the HuffingtonPost, Success, Discover and other media. He's given talks and workshops to Fortune 500 execs and national medical and psychological organizations, and pioneered first-of-their-kind conferences in Positive Psychology, Brain Science and Story. He hosts some of the world's smartest, most interesting and powerful people on his Bottom Up Radio Show, and founded and publishes one of the top Google- ranked progressive news and opinion sites, OpEdNews.com

more detailed bio: 

Rob Kall has spent his adult life as an awakener and empowerer-- first in the field of biofeedback, inventing products, developing software and a music recording label, MuPsych, within the company he founded in 1978-- Futurehealth, and founding, organizing and running 3 conferences: Winter Brain, on Neurofeedback and consciousness, Optimal Functioning and Positive Psychology (a pioneer in the field of Positive Psychology, first presenting workshops on it in 1985) and Storycon Summit Meeting on the Art Science and Application of Story-- each the first of their kind.  Then, when he found the process of raising people's consciousness and empowering them to take more control of their lives  one person at a time was too slow, he founded Opednews.com-- which has been the top search result on Google for the terms liberal news and progressive opinion for several years. Rob began his Bottom-up Radio show, broadcast on WNJC 1360 AM to Metro Philly, also available on iTunes, covering the transition of our culture, business and world from predominantly Top-down (hierarchical, centralized, authoritarian, patriarchal, big)  to bottom-up (egalitarian, local, interdependent, grassroots, archetypal feminine and small.) Recent long-term projects include a book, Bottom-up-- The Connection Revolution, debillionairizing the planet and the Psychopathy Defense and Optimization Project. 

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