Would Scottish Independence Mean Economic Sovereignty?

Scotland

Ellen Brown: Perhaps the Scots will blaze a trail for economic sovereignty in Europe, just as North Dakotans did in the U.S. A publicly-owned bank could help Scotland take control of its own economic destiny, by avoiding unnecessary debt to a private banking system that has become a burden to the economy rather than a pillar in its support.

Time to Rain Money on Main Street

Give Money to Main Street

Ellen Brown: When an article appears in Foreign Affairs, the mouthpiece of the policy-setting Council on Foreign Relations, recommending that the Federal Reserve do a money drop directly on the 99%, you know the central bank must be down to its last bullet.

Economic Ponzi Scheme

Janet Yellen and International Monetary Fund Managing Director Christine Lagarde

Ellen Brown: The rules have been changed before and can be changed again. Depressions, credit crises and financial collapse are not acts of God but are induced by mechanical flaws or corruption in the financial system. Credit may stop flowing, but the workers, materials and markets are still there. The system just needs a reboot.

The Looming Foreclosure Crisis

foreclosure crisis 2014

Ellen Brown: Mortgage debt overhang from the housing bust has meant lack of middle-class spending power and consumer demand, preventing the economy from growing. The problem might be fixed by a new approach from the Fed. But if the Fed won’t act, counties will, as seen in the latest developments on eminent domain and litigation over MERS.

Buying Up the Planet

central banks buying stocks

Ellen Brown: Today, however, central banks are on a global corporate buying spree not to bail out bankrupt corporations but simply as an investment, to compensate for the loss of bond income due to record-low interest rates. Indeed, central banks have become some of the world’s largest stock investors.