As public banking gains momentum across the country, policymakers in California and Washington state are vying to form the nation’s second state-owned bank, following in the footsteps of the highly successful Bank of North Dakota, founded in 1919. The race is close, with state bank bills now passing their first round of hearings in both states’ senates. n […]
Ellen Brown: Taxpayers are paying $36 billion annually to private banks for the privilege of parking their excess reserves at one of the most secure banks in the world – parking their reserves rather than lending them out.’
Ellen Brown: To fund a project as massive as the Green New Deal, we need a mechanism that involves neither raising taxes nor adding to the federal debt; and such a mechanism is actually proposed in the US Green New Deal – a network of public banks.
Ellen Brown: The Fed relentlessly pushed on with quantitative tightening through 2018, despite a severe market correction in the fall.
Ellen Brown: Venezuela’s problems are not the result of the government issuing money and using it to hire people to build infrastructure, provide essential services and expand economic development.
Ellen Brown: Many European, Asian and Latin American countries have their own national development banks, as well as belonging to bilateral or multinational development institutions that are jointly owned by multiple governments.
Ellen Brown: The Federal Reserve alone could do the job. It could buy “Green” federal bonds with money created on its balance sheet, just as the Fed funded the purchase of $3.7 trillion in bonds in its “quantitative easing” program to save the banks.
Ellen Brown: Rep. Alexandria Ocasio-Cortez and the 22 representatives joining her in calling for a Select Committee are also proposing a novel way to fund the program, one which could actually work.
Ellen Brown: The City Council took supporters by surprise when it put the charter amendment on the ballot in July, leaving only four months to promote it.
Ellen Brown: President Trump has stepped up his criticism of the Federal Reserve, saying of its aggressive interest rate hikes that it has “gone crazy.” The same charge has been leveled against Trump, but there may be a method to his madness.
Ellen Brown: A “yes” vote will allow the creation of a city-owned bank that can partner with local banks to provide low-cost credit for the community, following the steller precedent of the century-old Bank of North Dakota, currently the nation’s only state-owned bank.
Ellen Brown: 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.
Ellen Brown: Giant Chinese tech companies have bypassed credit cards and banks to create their own low-cost digital payment systems.