Ellen Brown: Public Banking Institute’s vision is to establish a network of public banks across the country to generate affordable credit according to the priorities of real people, not corporate persons or banks.
Ellen Brown: Even the world’s most resource-rich country has now been caught in the debt trap. Its once-proud government programs are being subjected to radical budget cuts—cuts that could have been avoided if the government had not quit borrowing from its own central bank in the 1970s.
Ellen Brown: The creation of credit has too long been delegated to a cadre of private middlemen who have flagrantly abused the privilege. We can avoid the derivatives trap by cutting out the middlemen and creating our own credit.
Ellen Brown: When we remove our myopic U.S. blinders, it turns out that globally, not only are publicly-owned banks quite common but that countries with strong public banking sectors generally have strong, stable economies.
Ellen Brown: We may not be able to beat the banks, but we don’t have to play their game. We can take our marbles and go home.
Ellen Brown: As Aristotle told this ancient Greek tale, Midas died of hunger as a result of his vain prayer for the golden touch. Today, the Greek people are going hungry to protect a rigged $32 trillion Wall Street casino.
Ellen Brown: The evidence to date suggests that “robo-signing” was not a mere technical default or sloppy business practice but was part and parcel of a much larger fraud, the fraud that brought down the whole economy in 2008.
Ellen Brown: In his State of the Union, President Obama announced that he would be creating a mortgage crisis unit to investigate wrongdoing related to real estate lending.
Ellen Brown: Banks and servicers can earn more when the homes are bulldozed—something that is happening in some counties—than from a sale or workout at a loss.
Ellen Brown: The post office could combine mail services with teller services, restoring the Postal Savings System of an earlier era, which would not only save the Post Office but to establish a competitive alternative to a runaway Wall Street banking monopoly.
Ellen Brown: The campaign to “move your money” has gotten a groundswell of support. Having greater impact would be to “move our money” — move our local government revenues out of Wall Street banks into our own publicly-owned banks.
Ellen Brown: We are indentured to a Wall Street money machine that creates our money and lends it back to us at interest, money our sovereign government could be creating itself, with full democratic oversight and accountability to the people.
Ellen Brown: The recent interest in state-owned banks has provoked challenges on grounds that they violate state constitutional prohibitions against lending the credit of the state. The argument is not valid.