Ellen Brown: It looks to be just another case of Wall Street fattening itself at the public trough, using the funds of mom and pop depositors to maximize bank profits and line the pockets of bank executives while depriving small businesses of affordable loans.
Ellen Brown: President Trump wants negative interest rates, but they would be disastrous for the U.S. economy, and his objectives can be better achieved by other means.
Conceding that their grip on the economy is slipping, central bankers are proposing a radical economic reset that would shift yet more power from government to themselves.
Ellen Brown: Sumerian kings solved the problem of “peak debt” by periodically declaring “clean slates,” in which agrarian debts were forgiven and debtors were released from servitude to work as tenants on their own plots of land.
Ellen Brown: Making American products cheaper abroad will do little for the American economy, because we no longer have a competitive manufacturing base or products to sell.
Ellen Brown: For skeptics who reject the global warming thesis, reforestation also addresses the critical problems of mass species extinction and environmental pollution, which are well documented.
Ellen Brown: If robbing Peter to pay Paul is the only alternative, the proposals will go the way of Trump’s trillion-dollar infrastructure bill for lack of funding.
Ellen Brown: To the crypto-anarchist community, usurping the power of central banks and governments may sound like a good thing. But handing global power to the corporate-controlled Libra Association could be a greater nightmare.
Ellen Brown: Home ownership has been called “the quintessential American dream.” Yet today less than 65% of American homes are owner occupied, and more than 50% of the equity in those homes is owned by the banks.
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.